Technical analysis by Forex_Vip_Signals about Symbol BTC: Sell recommendation (1/7/2025)

This is a technical analysis of the BTC/USD (Bitcoin/US Dollar) market on the 4-hour timeframe, using Heikin Ashi candles. Below is a description of the chart analysis:1. Trend and Pattern:A bullish ascending channel is identified with price consistently moving higher within the blue boundaries.A cup and handle pattern (yellow) suggests potential bullish momentum after a consolidation phase.2. Key Levels:Resistance Zones: Highlighted in purple at 104,008, 106,918, and 110,616, indicating potential target levels for upward movement.Support Zone: Marked with a red "Stop Loss" level below the current price at approximately 96,000, acting as a risk management level.3. Price Action:The price has broken out of the consolidation zone and is now testing higher resistance levels.Potential breakout scenarios are drawn, showing a pathway for price movement toward the upper resistance levels.4. Targets:First Target: 104,008.Second Target: 106,918.Final Target: 110,616.5. Risk Management:A stop-loss level is set below the previous swing low, ensuring a safety net if the price reversesHold