Technical analysis by SeoVereign about Symbol BTC: Sell recommendation (7 hour ago)

The core basis for presenting a bearish perspective in this idea consists of two main points. First, within the Double Zigzag pattern, each zigzag forms a 1:1 length ratio. WAVE.Y1=WAVE.Z1 For easier identification, I have illustrated this section in the chart below. The second is ZIF. ZIF (Zone of Interpretive Freedom) is a concept I devised myself, and it refers to the price range between the 1.0 ratio and the 1.414 ratio when Fibonacci retracement is drawn. This range serves as a critical zone for determining the validity of the idea, and as long as the range is not breached, the strategy is considered to remain valid. Also, the closing basis of ZIF is the daily candle’s closing price. Simply moving outside of ZIF does not immediately invalidate the perspective. Although the high of September 18 has been broken upward as of the current point in time, I regard this upward breakout as a false breakout (whipsaw). The reason is that leading altcoins are moving sideways, failing to follow Bitcoin’s movement, and are showing declining momentum. Accordingly, the average target price is set around 112.970 USDT. Additional briefings will be continuously updated to this idea as the chart develops.