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

Bitcoin and altcoins have been crashing in the past 2 weeks! Is there any hope for a bull market, or has the bullish cycle ended? In this analysis I will tell you my personal opinion, and if you haven't seen my previous very successful analysis on Bitcoin, you can do it right now! Because it's highly informative, and it can open your closed eyes. In short, Bitcoin just recently hit the long-term trendline from 2017 - 2021 - 2025, and yes, the market reacted to this trendline and dropped as expected. Because this is a major trendline, we have to expect a strong reaction. I still think the market needs to go lower in the short term because there is an unfilled FVG at 109k, so closing this gap would be appreciated. This GAP is also a strong support because it's in a confluence with this blue parallel channel, and the upward-sloping trendline definitely acts as a support. In the short term we should see a bounce from this trendline. You probably saw that Ethereum massively pumped, and some specific altcoins as well. We saw a short-term alt season, there is no doubt about it, but will this altcoin season continue or not? Currently I do not see a bottom on altcoins, so BTC.D should go up in the short-term and mid-term, but in October/November/December I think that would be a very good time to buy some altcoins for the upcoming alt season! Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!Bitcoin is hitting the strong resistance of the descending channel, which is a good entry point for a short position.A short trade is still valid because Bitcoin is still in the bearish descending channel. But if you feel uncomfortable, you exit at the entry point, but the invalidation point is 118,500 - until then Bitcoin remains in the bearish downtrend on this chart.