Technical analysis by dreminn about Symbol BTC: Sell recommendation (1/12/2024)

Btc, which broke all the resistances one by one and continued on its way, even though it gives fear with its sharp downward movements from time to time, it still manages to hold on above 45 for now. He seems to have succeeded. I will try to explain the importance of 50k, which I have noticed for a while and which you consider as a psychological limit, with graphs in both short and wide time frames. one. Here we see a "bearish crab pattern" that occurs in a short time period. Point D corresponds to 50k. 2. Finally, the fib of the 1-month-long correction we experienced in July 2023. extension 2.618 level corresponds to 50k. As you know, the 2.618 level is a very important Fibonacci level. 3. Fib of the 1-month correction we experienced in February 2023. extension 3.618 level corresponds to 50k. The 3.618 level is an important Fibonacci level. 4. The correction in July led to a market breakdown, but btc continued on its way by making a new high. From there, the fib extension 1.618 level, which dropped to the bottom, also corresponds to 50k. 5. Finally; The Fib0.786 retracement level of Fibonacci, which we pulled from our Ath level of 69k to our last bottom level of 15k, corresponds to 50k. Note: It is not an investment recommendation, but is shared to monitor the progress.