Technical analysis by RetiredNovice about Symbol BTC: Sell recommendation (2/9/2024)

Bitcoin looks to be going according to plan. This last leg-up will be the final fakeout before the big shakeout. As you can see with this daily range, BTC has not broken out of this channel above 50k - Only then will bullish continuation be valid. Unfortunately we still have many months to go before breaking above the 50k range and experiencing full bull euphoria. 1. BTC rises like it is now. 2. BTC gets rejected at resistance. 3. BTC drops back down to the reality range. 4. More people lose hope and exit. 5. BTC halving occurs. 6. More sell-offs. 7. BTC can finally recover to the upside. Market psychology mixed with previous trends - history repeats itself. This time is not different.Comment: P.S. I still believe 38k was the bottom btw