Technical analysis by djobs about Symbol BTC: Buy recommendation (11/23/2024)

As Bitcoin approaches the $100,000 milestone, this analysis leverages Fibonacci extensions to highlight potential targets for the current market cycle. Historical trends suggest that Bitcoin’s cycle tops often align with major Fibonacci levels, making the 160K-180K zone a key area of interest.This zone represents a strong convergence of resistance based on both technical levels and psychological significance, where a potential cycle top could form. The chart provides a visual breakdown of these targets, with additional possible extensions if momentum overextends.Disclaimer: This is not financial advice. Always conduct your own research before making any investment decisions.