Technical analysis by tienbmdev97 about Symbol BTC: Sell recommendation (3/14/2025)

Trade Analysis (BTCUSDT - 15M Chart)1. Market Structure:The chart shows a potential double top forming near the $84,500 resistance zone.The price has tested this area multiple times, indicating strong supply.The market structure suggests a liquidity grab in the green resistance zone before a possible reversal.2. Key Levels:https://www.tradingview.com/x/9mTnbj4Q/Resistance Zone (Green Box): Around $84,500 (high liquidity area).Support Zone (Orange Line): Around $81,000 (previous demand zone).Low of Interest: Around $76,500 (potential deeper liquidity pool if breakdown happens).3. Price Action & SFP Setup:The price might spike above the resistance to trap breakout traders and trigger stop-losses.If it fails to hold above $84,500 and closes back below the resistance, it confirms a Swing Failure Pattern (SFP).A rejection at this level could signal a short entry opportunity.4. RSI & Volume:RSI Divergence: The RSI is showing signs of bearish divergence, suggesting momentum is weakening.Volume Analysis: The previous highs had a volume spike, but the latest rally has lower volume, indicating exhaustion.5. Trade Plan:Entry: Look for bearish reversal patterns (e.g., bearish engulfing, rejection wicks) around $84,500-$85,000.Stop-Loss: Above the liquidity grab zone (~$85,500).Take Profit:TP1: $81,000 (orange support line).TP2: $76,500 (previous low).Risk-Reward Ratio: Targeting at least 1:3 RR.6. Conclusion:Short Bias: Favoring shorts if price rejects $84,500-$85,000.Invalidation: If BTC breaks and holds above $85,500.Confirmation: Wait for a strong bearish reaction at resistance before entering.