Technical analysis by KellyLondon about Symbol BTC: Sell recommendation (6/18/2025)

The intensified conflict between Israel and Iran has plunged stock and crypto markets into a slump, and hopes for a quick ceasefire seem increasingly slim.The tensions between Israel and Iran have affected Bitcoin, with the price falling to $104,000, and the casualties have continued to rise as the conflict has gone on, with Iran reporting 224 deaths and Israel confirming 24 deaths. All major stock indexes fell, and Bitcoin had fallen to around $104,000 at the time of reporting.To make matters worse, U.S. retail sales fell 0.9%, worse than the 0.7% forecast by research firm Factset. The U.S. Census Bureau released preliminary monthly estimates for retail and foodservice sales in May 2025, with sales totaling $715.4 billion, down from $722 billion in April.Israel claims to have attacked three key Iranian nuclear facilities, and Israeli Prime Minister Benjamin Netanyahu did not rule out the possibility of assassinating Iran's Supreme Leader Ali Khamenei. "This will not escalate the conflict, but end it," Netanyahu said in an interview with ABC News.Meanwhile, US President Donald Trump seems happy to sit on the sidelines. "I have not sought "peace talks" with Iran in any way. If they want to, they know how to contact me," Trump wrote on Truth Social. Donald Trump met with G7 leaders in Canada on Monday, but left early to deal with "bigger" issues than a possible Israel-Iran ceasefire. Earlier reports said Trump left to focus on ending the ongoing conflict, but he strongly denied this.Futures market data from Coinglass shows that BTC open interest has fallen by 2.81% and now stands at $70.84 billion. The market decline also led to a total of $7.67 million in liquidations, of which $7.3 million came from long positions. Short traders lost only $371,610.Bitcoin may continue to fluctuate as the Israel-Iran war progresses. I think the temporary recovery of Bitcoin now is just a false alarm, and a bigger drop is brewing!