Technical analysis by Mr_TraderLive about Symbol BTC: Sell recommendation (5/9/2025)

Bitcoin has recently formed a rising wedge pattern, which typically signals a bearish reversal. The price is showing signs of exhaustion near the upper resistance zone around $103,000 – $104,000 and has begun to break structure, suggesting potential downside ahead.Key Observations:Clear rising wedge with a false breakout at the top.Price is starting to break below the lower wedge support.Rejection from the marked supply zone aligns with historical resistance.Bearish targets are drawn based on structure and prior support levels.Entry:Enter short if BTC confirms breakdown below $102,000 with momentum.Targets (Take-Profit Levels):TP1: $99,545TP2: $95,984TP3: $93,348Stop-Loss:Above the supply zone at $104,000