Technical analysis by UnclebankCrypto about Symbol BTC: Sell recommendation (2/6/2025)

Background:PSY (Preliminary Supply)- is an area where substantial selling begins to resist the market after a long upward move. Bitcoin 106KBC ( Buying Climax) - a bar where the climax of buying pressure usually occurs. This is the bar with the widest spread compared to the previous ones and with extremely high volume and indicates that the power of buying is depleted and in this price zone the buying crowds are absorbed by the big professional players in the price range at the very top of the market. Bitcoin 108KARn (Automatic Reaction) - An automatic reaction occurs after a buying climax. Bitcoin 92KST (Secondary Test(s)) - professional players do secondary test of the Buying Climax (BC) zone in order to test the balance of supply and demand at these price levels. Bitcoin 109K tested the high of the (BC)Ice (Secondary Support)- an analogue of a wavy support line drawn along the lows of the reaction within the trading flat itself. Bitcoin 91KSOW (Signs of Weakness) - Downward movement on a good rising spread and volume. The offer shows its dominance. Bitcoin 89KUTAD (Upthrust After Distribution)Bitcoin 102K & 105KNow:LPSY (Last Point of Supply) - A pullback to resistance that was support on falling spread and volume after a sign of weakness. Bitcoin 103KFuture:The phase in which supply exceeds demand is a downtrend. Bitcoin 85K