Technical analysis by JalilRafieefard about Symbol BTC: Sell recommendation (2/18/2025)
Bitcoin’s 1.5-2 year downtrend has begun. (Phase 1)
As predicted in the previous analysis, Bitcoin saw its two-year price ceiling at around $109K when Trump entered the White House, and Bitcoin will have downtrend for about a 1.5-2 year. This decline will have 3 phases, which I have shown in the first phase chart in 3 stages. As you can see in the chart, in the first phase, Bitcoin will fall to around $81K and then rise again to near the price ceiling. But in my opinion, it will not be able to create a new price ceiling and will have a heavier decline towards the $50K-$60K range. JalilRafieefard February 18, 2025The first wave (first stage) of phase 1 of the downtrend ended.This analysis reached the target at $77,000 in the first downtrend wave, but failed in the subsequent uptrend wave as Bitcoin crossed $109,000. You can now view the new analysis at the link below: