BTCUSD: SELL 109500, SL 111000, TP 100000 | 23 May 2025
23 May 2025, BTCUSD
Bitcoin has finally broken through the significant resistance level it had bounced off twice before. However, the key question is whether buyers will be able to hold the price at these new highs. The current wave pattern indicates that the upward move has completed an impulse. What was previously assumed to be an ending diagonal now appears to be a contracting triangle, typically the penultimate wave before a trend reversal. Therefore, it makes sense to wait for a clear point of entry on the short side, likely to emerge after a descending wave confirms the beginning of a correction. Investment idea: SELL 109500, SL 111000, TP 100000.
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.
