This is a chart #BTC with a much longer timeframe (1B or daily chart) covering the period from May 2022 to February 2025.

For this chart, my recommendation is:

1. SELL Position (SELL)** for the following reasons:

A significant large red candlestick (bearish) is seen at the highest area, indicating rejection at the psychological level of 110,000.00.

The current price (86,957.10) has already experienced a deep correction from its highest level.

EMA(7) has crossed below EMA(25), indicating a change in momentum towards bearish.

An Evening Star pattern (bearish pattern) is visible at the peak indicating a reversal.

ENTRY LEVEL

Entry point at the current price (86,957.10) or on a small pullback (if any) to the area of 88,000-90,000.

STOP LOSS

Place the stop loss around 93,000-95,000 (above the last swing high before the major drop).

TAKE PROFIT

First profit target around 73,000 (support level).

Second profit target around 60,000 if the downtrend continues.

Third target around 52,000 (long-term support).

SUPPORTING FACTORS

Trading volume seems to be increasing during the decline, confirming the strength of the sellers.

The market may be in a correction phase after a sharp rise from 15,000 to 110,000.

Since this is a longer timeframe (1B), ensure good risk management with proper position sizing.

Note that this is an analysis for medium to long-term trading.