Technical analysis by ForexOptimizer about Symbol BTC: Sell recommendation (3/24/2025)

Bitcoin (BTCUSD) is trading inside a rising wedge pattern on the 4H chart—typically a bearish reversal structure. Price is currently hovering near the wedge resistance and a previous supply zone, presenting a clean short opportunity with solid risk-to-reward.📊 Technical Breakdown1. Rising Wedge FormationThe price action has formed a clear rising wedge, a pattern often associated with a bearish breakout.Current price action shows momentum fading near the wedge top, aligning with historical resistance.2. Key Sell ZoneThe 88,600–89,000 region marks an ideal short-entry zone.This overlaps with a prior consolidation/supply block and wedge resistance—making it a high confluence zone.3. Bearish Target & ProjectionBreakdown of wedge support could drive price down toward the target zone near 78,000, a potential -8.89% move.This target zone acted as a strong demand area in mid-March and is likely to attract buy interest again.📌 Trade PlanSell Entry: Around 88,600–89,000Stop Loss: Above 92,923 (beyond wedge + supply zone)Target: 78,000 zone, prior demand and technical projectionRisk-to-Reward: High conviction R:R setup with structured invalidation⚠️ Watch for ConfirmationIdeal confirmation would be a strong bearish 4H candle below wedge support or bearish divergence on RSI/MACD.