Technical analysis by melikatrader94 about Symbol BTC: Sell recommendation (8/3/2025)

Hello guys! Bitcoin has officially broken below the descending channel it was stuck in for weeks. Right now, price is pulling back to retest the broken channel, which is now acting as resistance around the 114,700 zone. What I'm watching: Broken channel = bearish signal Retest zone around 114,700 Downside target near 110,400 So far, it looks like a clean setup for further downside, unless bulls manage to reclaim that broken trendline. Until then, the pressure remains to the downside. Let’s see how price reacts here... Rejection = short opportunity.BTC Breaks Down - Update: The pointed area has been touched, but the short position is not confirmed yet!