Technical analysis by dfpksk about Symbol BTC: Sell recommendation (5/17/2025)

📉 Current Market Overview:Bitcoin price rejected from the resistance zone around 103,656 and is currently retracing within a short-term ascending channel. However, this upward move appears corrective, while the broader market structure remains bearish.📊 Market Structure Breakdown:Price has broken down from the ascending channel, signaling weakness from the buyers and potential beginning of a new bearish wave.The first support zone has been breached, which may lead to further downside pressure.🎯 Key Targets (TP Levels):TP1: Demand zone between 102,150 – 102,000, aligned with the 0.705 Fibonacci level. This is a potential area for a short-term bounce.TP2: Major support zone between 101,600 – 101,500, near the 1.0 Fibonacci level. If bearish momentum continues, this is a high-probability target.📌 Expected Scenario:After the channel breakdown, the price is likely to continue its downward trend toward the marked zones. Minor pullbacks are expected along the way, offering possible short re-entry opportunities.⚠️ Invalidation Level:If the price reclaims the broken channel and breaks above 103,200, the bearish outlook will be invalidated, and the market structure needs to be re-evaluated.🔗 Official Channels & Resources:🎥 YouTube:youtube.com/@thewhalepulse💬 Telegram:t.me/TheWhalePulse🎧 Discord:discord.gg/fF5C3Euy📈 TradingView:tradingview.com/u/whalepulse/🌐 CoinMarketCap:coinmarketcap.com/community/profile/thewhalepulse/📸Instagram :instagram.com/whalepulseproThe WPT indicator says: Go Long! 😅💡 Please use proper risk management when entering trades!That way, even if you hit a loss, you’ll only lose 1% of your total capital, and with the next profitable trade, you can easily make back twice as much ✅If you don’t know how to manage your risk properly or you're not familiar with the formula,🎥 Click the link below — I’ve explained it all in a super simple way:👉 youtu.be/-e2A85n4m2M?si=AccsoknBERJhTB8j🕐 It only takes 6 minutes of your time,but it could be the difference between surviving or getting wiped out in the markets!Stay sharp, trade smart! 📊💪Like I said, we were supposed to enter the position after the support break, but it hasn’t broken yet ⚠️.Hope you read the message 📖,If not, no worries — the important thing is that you set your stop loss 🛑.Bro, it’ll get your money back 💸, although you really shouldn’t have opened the position by now.Just wait, my friend ⏳.✨Friends, this is probably a correction to create a lower high, and then it might break the support.