BTC/USD: SELL: 93310, SL: 95500, TP: 89000 | 19 February 2025
19 February 2025, BTCUSD
The amplitude of price movement for the asset under consideration continues to decrease, leading to a narrowing of the chart, taking the shape of a triangle. At some point, activity will spike sharply, and the price will surge either upwards or downwards. In the current situation, the bearish option looks more likely.
This is due to the fact that a converging horizontal triangle is presumably being formed, which is Wave [x] in a double zigzag. A logical continuation of this model is a downward movement driven by the development of the second part—Wave [y].
A good entry point for sell trades appears to be the extreme level established during yesterday's trading at 93310. Upon breaking this value, short positions can be opened.
Investment idea: SELL: 93310, STOP LOSS: 95500, TAKE PROFIT: 89000.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
