Technical analysis by MonoCoinSignal about Symbol BTC: Sell recommendation (15 hour ago)

As predicted in my previous analysis Bitcoin followed our roadmap to the dollar. We saw the exact flush to the $86k demand zone, followed by a surge back to $90,300 where price faced the rejection we anticipated. Now, the market has coiled into a tight wedge, setting the stage for the next decisive move. Bitcoin is coiled in a converging wedge with just $214 of breathing room between ascending support ($87,533) and descending resistance ($87,319). With 10 touches validating that support line and volume 68% below average, we're in the calm before the storm. Breakout expected within 10 bars, here's how to position for it. 1. THE TECHNICAL REALITY 📉 • Price trading below all three major EMAs (20/50/200) creating overhead resistance • Wedge compression to $214 width signals forced resolution imminent • 40.2% lower wick vs 40.9% upper wick = perfect equilibrium between bulls and bears • 10 touches on ascending support from $84,408 make this an exceptionally validated trendline 2. THE INDICATORS ⚖️ Bearish Signals: • MACD bearish with line at 84.29 below signal at 90.08 • Trading below entire EMA cluster creates natural resistance • Recent rejection at bearish order block ($90,599-$89,109) Bullish Signals: • Bullish order block at $87,555-$86,760 aligns with ascending support • RSI at 51 shows room to move either direction • Ascending trendline has held 10 consecutive tests The Conflict: MFI at 49.7 and volume 68% below average ($4,999 vs $15,693) reveal neither side has conviction. The market is waiting for a catalyst to commit capital. 3. THE TRADE SETUP 🎯 🔴 Scenario A: Wedge Breakdown (Higher Probability) • Trigger: 4H close below $87,533 with above-average volume • Entry: $87,400 on confirmed break • Target 1: $86,355 (1.4% move, recent swing low) • Target 2: $85,073 if selling accelerates • Stop: $88,200 (0.8% risk = 1.6:1 R/R to first target) 🟢 Scenario B: Wedge Breakout (Lower Probability) • Trigger: Reclaim $88,200 and break through EMA cluster • Entry: Break above $89,557 (immediate resistance) • Target: $90,599 (bearish OB), extended to $92,018 (premium zone) • Invalidation: Failure to hold $88,200 on retest CRITICAL LEVEL: 4H close above $90,599 invalidates the entire bearish thesis and signals Change of Character bullish. MY VERDICT The setup slightly favors bears at 72% confidence due to EMA structure and MACD momentum, but that ascending support has earned respect with 10 touches. I'm treating this as a patience game, waiting for the wedge to break with volume confirmation rather than front-running. The compression rate suggests resolution within 24-48 hours. When a trendline this validated breaks, stop losses cascade and accelerate the move.