Technical analysis by Mentor_Michael03 about Symbol BTC: Sell recommendation (7/24/2025)

BTCUSD Key Supply Zone Rejection – Bearish Target Mapped (Educational Breakdown) ⸻ 🧠 Technical Analysis (1H Chart): •Range Structure: BTCUSD is currently trading within a well-defined consolidation range between the Resistance Zone ($119,850–$120,591) and the Support Zone ($116,937). •Volume Profile (VRVP): Volume is noticeably thick near the mid-range, suggesting accumulation/distribution behavior. Price is struggling to break above the value area high near $120K. •Resistance Rejection: After testing the upper supply zone, price failed to sustain bullish momentum and is showing signs of exhaustion – a possible sign of institutional selling. •Target Zone: If price rejects this resistance again, a strong move toward the target level of $117,260 is expected. This aligns with: •Mid-range liquidity sweep •Low-volume node (LVN) below current price •Fair Value Gap fill near $117,200–$116,900 ⸻ 🧩 Key Concepts Highlighted: •Support & Resistance Mapping •Volume Profile Readings •Institutional Order Flow Bias •Target Projection using Smart Money Concepts ⸻ ⚠ Educational Insight: This setup is a perfect example of how to combine Volume Profile + Price Action to identify liquidity traps and smart entries. Always wait for confirmation near key zones — not every level breaks! ⸻ ✅ Trade Plan (Not Financial Advice): •Watch for bearish engulfing/rejection wick at resistance •Short entry below $119,000 with SL above $120,600 •Target: $117,260 / Final TP: $116,937 zoneBitcoin (BTC) has successfully hit the target on our short position, confirming the bearish setup played out as expected. After failing to hold above key resistance and showing weakness through lower highs and a breakdown from support, BTC continued its downward move and reached the projected short target.