BTCUSD: SELL 105450, SL 106800, TP 98500 | 21 May 2025
21 May 2025, BTCUSD
Bitcoin did not follow through on the expected corrective decline, instead reversing sharply to the upside. As a result, the price has returned to the previously set local high, and it now trades near the all-time high, which is acting as strong resistance. The likelihood of a quick breakout through this level seems low. Additionally, the wave structure still points to the need for a pullback — likely forming wave [ii]. Therefore, a downward correction is expected in the near term, supporting the idea of initiating short positions. Investment idea: SELL 105450, SL 106800, TP 98500.
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.
