Technical analysis by ScalpTraderPro about Symbol BTC: Sell recommendation (5/22/2025)

Technical Analysis: BTCUSDT - Double Top Formation Signaling Potential Reversal📅 Date: May 23, 2025⚙️ Pair: BTC/USDT📊 Timeframe: Intraday (likely 1H or 4H chart based on structure)🧵 Chart Pattern Analysis:This chart clearly illustrates a Double Top Pattern, a well-known bearish reversal signal suggesting a potential price drop after an uptrend.🔍 Key Elements:Top 1 & Top 2:Two distinct peaks around the same price level (~111,980), indicating strong resistance. The price failed to break above this level twice, which typically implies buyer exhaustion.Double Top Confirmation:The neckline (support level between the two peaks) was broken, confirming the double top. This is a classic signal for a bearish move.Price Action:After the second peak, BTCUSDT began to form lower highs and lower lows, hinting at a shift in momentum from bullish to bearish.🎯 Trade Setup:Entry (Sell):Near current price (~111,138.51) after confirmation of neckline break and minor retest.Stop Loss:Placed above the resistance zone at 112,152.41, slightly above the double top to account for volatility and false breakouts.Target:Set around 108,479.67 which aligns with previous support and technical projection from the double top's height.📉 Risk-Reward Analysis:Stop Loss: ~1,014 pips above entryTarget: ~2,658 pips below entryRisk-Reward Ratio (RRR): ~2.6:1 — A favorable setup for risk-conscious traders.📌 Conclusion:This chart presents a textbook Double Top Reversal on BTCUSDT. With clear resistance, broken neckline support, and a well-placed stop loss and target, this could offer a solid short opportunity if current bearish momentum continues.🔔 Watch closely for confirmation candles and volume increase near the neckline for stronger validation.