Technical analysis by wealthsmith23 about Symbol BTC: Sell recommendation (6/16/2025)

Currently, BTC/USD is approaching a key supply zone between $107,800 – $108,600, where price previously faced strong rejection. My expectation is that price will react similarly upon retest. 🧠 Trade Idea: I'm anticipating a fakeout or liquidity grab above the zone, followed by a lower high formation. Once this confirmation occurs, I’ll be looking for a short entry, targeting the major demand zone below, around $100,800 – $101,600. ✅ Confluences: Previous price rejection from this same resistance zone. Clean bearish imbalance below that still needs filling. Lower timeframes showing signs of exhaustion as we approach resistance. 🕵️‍♂️ Entry Trigger: I’ll wait for bearish price action within or just above the yellow resistance zone (e.g. bearish engulfing, lower high, or break of structure). 📉 Target: TP Zone: $101,000 area SL: Just above the fakeout zone to manage risk effectively.DONE