Technical analysis by Senorita71 about Symbol BTC: Sell recommendation (4/18/2025)

Bitcoin (BTC) is stabilizing around $84,000 at the time of writing on Thursday after facing multiple rejections around the 200-day Exponential Moving Average (EMA) at $85,000 since Saturday. Despite risk-off sentiment due to the hawkish remarks by the US Federal Reserve (Fed) on Wednesday, BTC remains relatively stable. Meanwhile, institutional demand shows weakness, as it recorded nearly $170 million outflow from Bitcoin spot Exchange Traded Funds (ETFs) on Wednesday.