Technical analysis by signetron about Symbol BTC: Sell recommendation (8/6/2025)

📌 Chart Summary Price: ~$115,000 Pattern: Rising Wedge (Bearish) Macro Structure: Completed Cup & Handle Stochastic RSI: Overbought + Bearish cross confirmed Ichimoku Cloud: Price far above cloud – extended EMA/MAs: Bullish but overstretched 🧠 Bias-Free Most Probable Setup (Weekly Outlook) 🟥 Bearish Sniper Setup — High Probability The chart is showing rising wedge exhaustion + Stoch RSI bear cross in extreme overbought = probable correction ahead. 🔽 Short Entry Plan (Sniper Setup) Entry (Short): $114,200 – $116,000 Ideal sniper zone inside the wedge breakdown area / resistance rejection zone Stop Loss: $123,000 Above wedge top and key psychological resistance Take Profit 1 Range: $96,000 – $99,000 Previous major horizontal resistance zone and wedge support retest Take Profit 2 (final target): $80,500 – $83,000 Major structure zone + Ichimoku cloud top + high-volume node Risk:Reward: 1:3.5 to 1:5+ 📈 Alternate Scenario: Bullish Breakout Setup (Low Probability but noted) If BTC breaks and closes above $123,000 on weekly, wedge invalidates and opens target: Breakout Target: $143,000 – $150,000 Based on wedge measured move + Fib extension ⚠️ Additional Confluences Supporting Bearish Bias: Weekly RSI + Stoch RSI overbought and curling down Rising wedge near exhaustion Bearish divergence risk with higher highs in price, lower oscillator momentum Volume is declining despite price rising – exhaustion signal 🧩 Strategic Notes: Avoid longing here unless $123K clean break + volume spike Best play = wait for confirmation of wedge breakdown to enter short Leverage carefully – this is a macro weekly timeframe setup⏳ Estimated Duration for Setup Completion (Weekly Chart) TargetPrice RangeEstimated Timeframe TP1 Range$96,000 – $99,0003–5 weeks TP2 Range$80,500 – $83,0005–9 weeks 🧠 Reasoning Behind Timeline Weekly Candles move slower — each candle = 7 days. Major moves (20–30% drops) from similar patterns in BTC history typically take 3–6 weekly candles. Stochastic RSI just crossed down = early signal. These usually take 3–4 candles to play through fully. Liquidity below (TP1 zone) is a strong magnet — if breakdown confirms, acceleration could be sharp in the first few weeks. TP2 depends on market sentiment, fundamentals (macro/Fed news), and whether TP1 bounce happens or not. 🚨 Important Notes: A retest bounce after TP1 is likely before TP2 dump — allow for some chop in weeks 4–6. Any weekly close above $123,000 invalidates this bearish setup — monitor weekly closes carefully.BTC got to $107,600 and took support from EMA 21; with the weekly stochastic RSI down and will most likely print bullish stochastic crossover. BTC bearish set up will be invalidated hence the manual closing of our trade. we took profit and will be flipping our bias to bullish our TP will be around $150,000