BTCUSD: SELL 104700, SL 105700, TP 98000 | 17 June 2025

The cryptocurrency market, with Bitcoin at the forefront, continues to face significant selling pressure. After failing to break through its all-time high, BTC reversed sharply, initiating what appears to be the beginning of a new downward cycle. This decline likely represents either a corrective zigzag pattern or the early stages of a larger bearish impulse — both of which suggest that further price depreciation lies ahead. Currently, the market is trading in a narrowing range, indicating indecision, but also hinting at an imminent breakout. Given the prevailing sentiment, a move to the downside is the most probable scenario. Existing short positions should be held, and traders may consider additional entries if price action confirms the anticipated breakdown. Investment idea: SELL at 104700, Stop Loss at 105700, Take Profit at 98000