Technical analysis by Pipsview_Analysis about Symbol BTC: Sell recommendation (3/1/2025)

Pipsview_Analysis

Bitcoin (BTC/USD) Technical Analysis – Daily Timeframe This chart presents a technical breakdown of Bitcoin (BTC/USD) using supply and demand zones to anticipate potential price movements. It reflects a bearish bias as price action shows rejection from the supply zone (sell zone) and an expected drop toward the demand zone (buy zone).🔍 Key Chart Elements1. Supply Zone (Sell Zone) – Resistance AreaThe supply zone is highlighted in the upper region, approximately between $86,000 and $88,000.This area represents a strong resistance where sellers are active, preventing further price increases.Bitcoin recently tested this zone but failed to break above, leading to a price rejection.2. Demand Zone (Buy Zone) – Support AreaThe demand zone is marked in the lower region, around $69,000 to $67,000.This is a historical support level where strong buying interest is expected.If Bitcoin reaches this level, a potential bullish reversal could occur.📉 Bearish Price ProjectionThe chart includes a downward arrow, indicating an expected bearish movement from the supply zone toward the demand zone.Reason for the expected drop:BTC is struggling to gain momentum above $86,000, showing signs of weakness.The recent bearish candles suggest increased selling pressure in the market.A failed breakout above resistance increases the likelihood of a downward move.Price Targets:First target: Around $74,000, a potential minor support.Second target: Around $69,000, which aligns with the demand zone and could act as a strong support level.🔄 Potential Alternative Scenario – Bullish Breakout (Low Probability)If BTC manages to break above the $88,000 resistance level, it could trigger a bullish rally.In this case, the next targets would be $92,000 and $96,000.However, given the current market structure, this is a less likely scenario unless buying momentum increases significantly.