Technical analysis by MyTradingJournal6th about Symbol BTC: Sell recommendation (13 hour ago)

Summary: BTC tagged the 123.6–124.6k supply and reversed hard. Price is parked around 118k (prior base/equilibrium). Intraday structure = lower highs; 4H momentum neutral→bearish unless 120.6k is reclaimed. Market check (now): Trading near 118k after a $124k spike and fast selloff. News drivers (condensed): Fresh ATH headlines triggered profit-taking; macro tone supportive on rate-cut hopes; ETF/institutional demand remains a tailwind but near-term stretched conditions invited a fade. Key levels Resistance: 119.6–120.2k, 120.8–121.4k, 123.6–124.6k Support: 117.6–118.0k, 116.2–116.8k, 114.5–115.2k, 112.0–112.8k Bias & triggers Bearish below 119.6–120.2k. Failure there keeps pressure toward 116s → 115s → 112s. Bullish only on strong reclaim of 120.6k+. Acceptance above opens 121.4k → 122.4k → 123.6–124.6k. Plan (idea) Short setup: Look for rejection at 119.6–120.2k or a clean break/close <117.6k → targets 116.8k, 115.2k, 112.5k. Long counter-trend: Only if price reclaims and holds >120.6k with momentum → 121.4k / 122.4k; stretch to 123.6–124.6k if demand persists. Invalidation: Shorts invalid if price sustains >121.4k; longs invalid on a 4H close <117.6k. Read: After the $124k sweep, the local uptrend line broke; 4H EMAs flatten and 30m prints lower highs. 118k is the pivot—acceptance below favors 116s–115s; swift reclaim of 120.6k signals bears losing grip.