Technical analysis by Michael-trades- about Symbol BTC: Sell recommendation (4/16/2025)

**BTCUSD Trade Setup Description (1H Chart – April 16, 2025)**- **Current Market Condition**: Bitcoin (BTCUSD) is trading around **$83,552**, showing signs of rejection from a key **resistance zone** labeled "R.S" on the chart.- **Resistance Zone (R.S)**: The highlighted purple box at the top represents a **resistance area**, where price has previously reversed. This zone has been tested multiple times, and the recent rejection suggests seller dominance.- **Support Zone**: The lower purple box marks a **support level** around **$79,237**, where price previously found strong buying interest.- **Trade Idea**: This chart presents a **short (sell)** setup: - **Entry**: Around current price ($83,552) - **Stop Loss**: Above resistance, near **$85,084** - **Target**: Near the support zone at **$79,237**- **Risk Management**: A clear stop loss and take profit are set, with the trade encouraging the use of **risk management** principles. The risk-to-reward ratio appears to be favorable, roughly **1:2** or better.**Trade Status Update – BTCUSD (1H Chart)** As of the latest candle:- **Current Price**: ~$83,552 - **Entry**: Trade appears to be active (around this level). - **Direction**: **Short position** - **Price Action**: - Price has broken below the recent consolidation range. - Currently hovering just under the resistance zone (R.S), confirming bearish rejection. - Momentum suggests further downside potential toward the **support zone (~$79,237)**.### **Status Summary**:- ✅ **Trade triggered**- 🟡 **Trade in progress**- ⏳ **Not yet reached target or stop**- 📉 **Bearish structure is intact**- ⚠️ **Watch for any reversal candles or high-volume wicks near 83K**