Technical analysis by SeoVereign about Symbol BTC: Sell recommendation (6/17/2025)

We are the SeoVereign Trading Team. With sharp insight and precise analysis, we regularly share trading ideas on Bitcoin and other major assets—always guided by structure, sentiment, and momentum. 🔔 Follow us to never miss a market update. 🚀 Boosts provide strong motivation and drive to the SeoVereign team. -------------------------------------------------------------------------------------------------------- Hello, This is SeoVereign, approaching technical analysis not as a result but as a prediction, with a realistic perspective. I am presenting a bearish view on Bitcoin as of June 17, 2025. First, based on the fact that a downtrend appeared near the 0.786 level of the overall Fibonacci retracement, I believe strong downward pressure is forming, and thus I am outlining this bearish perspective. This 0.786 level corresponds to around the 109,000 price range. On the chart, the 109,000–110,600 range is a very strong supply zone where support and resistance have repeatedly been confirmed. Next, from a wave counting perspective, the 1.272 trend-based Fibonacci extension lies in a similar area as the 0.786 retracement level, which further reinforces my conviction in this view. After successfully predicting the downward movement from the 11th, I have been continuously counting the recent upward wave, and the wave structure on the chart appears to align naturally, as I see it. In addition, from a harmonic perspective, the Alt Bat pattern is functioning effectively, and since the movement has been captured within the pre-set X–1.13 range, the confirmation of this pattern can also be considered successful. The first target is currently set around the 105,700 level. I will continue to monitor the market closely, and once this idea progresses to a certain point, I will share more specific evidence and the thought process behind the bearish entry through an additional update. Thank you.FIRST TP HIT!ALL TP HIT!!