Technical analysis by chefa about Symbol BTC: Sell recommendation (9/19/2025)

Pattern Recognition: A Head and Shoulders (H&S) reversal structure formed on the daily chart. The 1:1 measured move target has already been achieved, confirming the pattern’s validity. Confluence Zone: That 1:1 target aligns closely with the 0.618 retracement of the previous down leg (124,610 → 107,211). This adds weight to the idea that the move is corrective in nature rather than a fresh bullish leg. Market Structure: Even though price rallied strongly, the bigger picture shows a lower low was created when the 112,017 support level was broken. This keeps the macro trend bearish until proven otherwise. Bearish Scenario: Price is currently respecting the rising trendline. A break below this trendline followed by a retest could trigger continuation to the downside. Potential supports to watch: 112,017 (previous broken support, could flip resistance). 110,681 / 109,363 (structural levels). 108,432 (major demand zone). RSI: Momentum has cooled off without reaching overbought levels, suggesting that upside pressure is weakening.