Technical analysis by TradeWithTheTrend3344 about Symbol BTC: Sell recommendation (4/18/2025)

Hello,Bitcoin Bearish Outlook – April 2025Market Structure & Technical OverviewBitcoin continues to underperform as a safe haven asset, falling short of the optimism once compared to gold. Following a consistent formation of lower highs, BTC has once again broken down—hinting at a potential continuation of this bearish trend.Current Price: Just below the 1M Pivot Point (PP) at $84621.067.This area is crucial — if price accepts this level as resistance, we are likely to see further downside.The most recent 1M high stands at $88,781.70 — a level to watch but currently being respected as a ceiling.Should the price fail to reclaim 84k, the next target is the 1Y PP at $80,283.483. A rejection here opens the door for a move toward strong 1M support at $72,345.065.Below that, 1Y PP structural support comes into question. If the support gives out, the maximum decline target sits near $56,000, which would represent a full reset of the bullish macro narrative.Fundamental Headwinds: A Storm BrewsTrump's Latest Move: President Trump has repealed the IRS rule expanding the "broker" definition to decentralized exchanges, a move aimed at deregulating crypto and laying groundwork for a potential U.S. Bitcoin reserve.China’s Crackdown Intensifies:China’s courts and local governments are actively liquidating seized crypto through offshore channels.The lack of a centralized system raises corruption concerns, but near-consensus is forming around formal asset recognition and centralized liquidation.Despite a domestic ban, China holds 15,000 BTC, potentially making it the 14th largest holder globally.The decentralized anonymity principle of cryptocurrency is under increasing threat, as both China and the U.S. shift toward centralized control, regulation, and even reserve-building strategies. This movement contradicts the original ethos of Bitcoin, leading to a bearish sentiment among long-term holders.Sentiment SnapshotMetric StatusTechnical Structure BearishMarket Sentiment Neutral, leaning bearishMacro Fundamentals BearishKey Resistance (1M PP) $84,621.067Next Support (1Y PP) $80,283.483Strong Support (1M) $72,345.065Max Decline Scenario $56,000📉 Mark these key levels:$88,781.70 – Previous 1M High$84,621.067– 1M Pivot (Current Resistance)$80,283.483 – 1Y Pivot (Mid Support)$72,345.065 – 1M Strong Support$56,000 – Max Bearish TargetOverlay sentiment zones:Green (above 88K): BullishOrange (between $80k–88K): NeutralRed (below $80k): Bearish ContinuationThe Support and Resistance outlined in green and red are the respective support/resistance for this pair currently for 1M-1Y timeframes! No Nonsense. Just Really Good Market Insights. Leave a BoostTradeWithTheTrend3344