Technical analysis by Signal_Centre1 about Symbol BTC: Sell recommendation (3/31/2025)

BTCUSD Bitcoin has formed a double top pattern, confirmed by a breakdown below 89,199, signalling potential for further downside. Additionally, a bearish flag breakdown in recent sessions suggests continuation lower.This morning’s gap down highlights market weakness, but a fill of this gap at $83,543 may offer an ideal entry for short positions.Trade DetailsEntry (Sell Limit): 83,543Stop Loss: 87,992Take Profit: 70,613Risk/Reward Ratio: 2.9:1Key LevelsResistance:R1: $83,543 (Entry Point)R2: $85,819R3: $88,767Support:S1: 76,590S2: 70,531S3: 63,411Technical & Fundamental Factors✅ Double Top Formation – Breakdown below 89,199 confirms bearish momentum.✅ Bearish Flag Breakdown – Indicates continuation of the current downtrend.✅ Gap Lower – Signals further weakness; gap fill at 83,543 offers a selling opportunity.⚠️ Smart Money Not Buying – Commercial participants are selling Bitcoin, suggesting a lack of institutional support.SummaryThis setup offers a high-probability short opportunity at 83,543, targeting a move down to 70,613, with a stop at 87,992. The combination of technical breakdowns and weak institutional demand supports a bearish outlook.Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.