Technical analysis by FirstNameHelen about Symbol BTC: Sell recommendation (7/31/2025)

Hi folks today I'm prepared for you Bitcoin analytics. A technical review of the chart reveals a prolonged period of horizontal consolidation, during which the price has been trading within a well-defined range between support at 114700 and resistance near 119700. This phase of balance follows a significant prior uptrend, and a major ascending trend line is currently intersecting this range. My analysis for a short position is based on the expectation of a final 'test and fail' at the top of this consolidation. I believe the price will make one more attempt to rally towards the resistance zone around 119700. A strong rejection from this area, demonstrating sellers' control, would serve as the main confirmation for a bearish bias. Such a rejection would likely initiate a powerful downward move across the range, with sufficient momentum to break the critical ascending trend line. This would be a significant structural event, signaling a potential reversal of the larger trend. Therefore, the primary goal for this scenario is logically set at the 114700 support level, the bottom of the consolidation range. If you like my analytics you may support me with your like/comment ❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.