Technical analysis by Nova-Scalper about Symbol BTC: Sell recommendation (6/13/2025)

💎 BTC PLAN UPDATE (June 13)NOTABLE NEWS ABOUT BTC:Prices of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) slipped as rising geopolitical tensions between Israel and Iran sparked a wave of risk aversion across crypto markets. As uncertainty deepens, the three largest cryptocurrencies by market capitalization are on track to close the week in the red, with current price action signaling the potential for a deeper correction.Bitcoin bears regain controlAfter failing to reclaim its all-time high of $111,980 earlier in the week, Bitcoin lost upward momentum and began a steady pullback, slipping below key support at $106,406 on Thursday. As of Friday, BTC continues its downward trajectory, hovering near the 50-day Exponential Moving Average (EMA) at $102,447.TECHNICAL ANALYSIS PERSPECTIVE:We successfully identified the peak at the 110K resistance level. As predicted, BTC dropped $7,000 following disappointing CPI and PPI reports. Currently, the price has fallen back into a descending channel pattern and is expected to decline further.Bitcoin’s upward trend is under threat as funding rates become more constrained.Earlier this week, Bitcoin hovered near its all-time high of $111,980, but market sentiment remained alarmingly cautious—likely due to uncertainty in the macroeconomic environment.The path of least resistance is gradually shifting downward, especially as the Relative Strength Index (RSI) falls to the midline at 50 from a recent high of 64 on the daily chart. Traders will look for bearish confirmation signals from the Moving Average Convergence Divergence (MACD) indicator—signaled when the blue MACD line crosses below the red signal line.Watch for long positions around the 100K price area, with a target back to 103K. If the price breaks below the 100K support level, we should avoid holding onto a bullish bias.At this time, whether you’re a newcomer or experienced trader, it’s advisable to spend time practicing and reinforcing technical analysis knowledge. Explore educational posts on the channel to build a stronger foundation and avoid potential losses.==> This analysis is for reference only. Wishing all investors successful trades!