🚨 Technical Analysis of Bitcoin ($BTC ) - Potential Selling Opportunity
The price of Bitcoin ($BTC ) has risen to the 112,000-113,000 range, which aligns with a strong resistance cluster from previous supply levels. Momentum indicators on the four-hour chart show overbought conditions, and candles have started to form wicks - a sign of buyer exhaustion.
If the price of Bitcoin ($BTC ) fails to break through the 113,950 level, we may witness a strong pullback before any further upward continuation.
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📉 Sell Setup
Entry Area: 112,000 - 113,000
Target 1: 110,200
Target 2: 108,500
Target 3: 106,800
Stop Loss: 113,950
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💡 Note: If the BTC price breaks 114,000 and holds above this level with strong trading volume, the sell setup becomes invalid, and the price may continue to 116,000 - 118,000.