Technical analysis by Zickey_11 about Symbol BTC: Sell recommendation (5/12/2025)

Current Market Overview:Price Action: Bitcoin has rallied approximately 40% from its April lows, reaching a high near $105,525 today. Support Levels: Key support is identified around $100,000, with additional support near $92,000. Resistance Levels: Immediate resistance is observed around $107,000, with a potential upside target near $120,000 if bullish momentum continues. Bearish Pattern Analysis:While the broader trend remains bullish, certain patterns indicate possible short-term bearish movements: Head and Shoulders Formation: Some analysts have noted a potential head and shoulders pattern forming, which could signal a reversal if confirmed. Momentum Indicators: The Relative Strength Index (RSI) is above 70, suggesting overbought conditions that might precede a pullback.Trade Active