Technical analysis by HoratiuBogdan about Symbol BTC: Buy recommendation (9/23/2023)

Chart analysis:We observed the BTC price evolution and identified the following aspects:Main trend:We have identified an uptrend with the price forming a full 5-wave rising and 3-wave falling pattern, indicating a full 8-wave Elliott pattern.Support and resistance levels:We noted the important support levels at $25180 and resistance at $26616, with the current price at $25934.Technical indicators:We observed that sustainable growth would require increasing volume as the price increases.Pricing model:We identified an accumulation pattern based on the Wyckoff principle, which went through the 5 phases of accumulation according to the Wyckoff principles.Fibonacci levels:We calculated Fibonacci levels to identify possible price targets. Fibonacci wave projection indicates the following confluence levels:The projection at 1,618 is in confluence with the $28,234 level.The projection at 2,618 is in confluence with the $29,682 level.The projection at 3,618 is in confluence with the $31,130 level.Conclusions:In conclusion, given the technical analysis, including the Wyckoff accumulation pattern and Fibonacci levels, I believe that there is significant upside potential in the coming period. The first potential target is at $28,234, the second at $29,682, and the third at $31,130.Warnings and Limitations:I must point out that technical analysis has limits and that cryptocurrency trading involves risk.