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.