Technical analysis by Saitamasignal about Symbol BTC: Sell recommendation (6/12/2025)

📊 Technical Analysis of BTC/USD Chart (Weekly Timeframe)1. Chart OverviewPair: BTC/USD (Bitcoin vs. US Dollar)Exchange: BinanceTimeframe: 1W (Weekly candles)Current Price: $107,508.752. Pattern & Market StructureThe chart displays a potential ABCDE corrective wave structure, likely part of an Elliott Wave Ending Diagonal or a distribution phase.The market appears to be forming a double top around the E point, signaling trend exhaustion and possible trend reversal.This pattern often precedes sharp corrections or bearish reversals.3. Key Support & Resistance ZonesImmediate resistance: Around $107K (current peak)First major support: Around $80,000 — previous consolidation zone.Second strong support: Around $41,500 — a critical historical demand area and support zone.4. Forecasted Price ActionThe yellow projection line suggests a significant correction from the E point.If the current structure breaks down, price could retrace to $80K, possibly consolidating before heading toward the $41.5K zone.This move would align with an ABC correction or a rising wedge breakdown scenario.5. Indicators & MomentumThe Stochastic Oscillator at the bottom shows an overbought condition, supporting the bearish outlook.The red line (likely a 50-period MA) shows flattening momentum, indicating weakening bullish pressure.Bitcoin is showing signs of exhaustion at the E wave top. The double-top pattern and overbought signals suggest a potential downward move toward key support levels. Risk management is crucial here, as a breakdown from the current level could lead to a deeper correction toward $41.5K. Traders may consider de-risking long positions and preparing for possible short opportunities or re-entry around major support.