Technical analysis by QuantumFusionWave about Symbol BTC: Sell recommendation (12/8/2024)

Bitcoin has recently achieved a new all-time high (ATH), signaling strong bullish momentum. However, historical patterns suggest that a significant correction is imminent, with a potential decline of 32% to the $70,000 level. This critical juncture will define Bitcoin’s next move and its long-term trajectory.Key Scenarios for BTC’s Path:Scenario 1: Consolidation Above $90,000 and Push to $120,000 (March 2025)Bitcoin’s first challenge is to maintain support above $90,000. If successful, the bullish momentum could drive BTC to a new ATH of $120,000 by March 2025.Following this peak, BTC may face a significant correction to $40,000, signaling the end of the current market cycle.Scenario 2: Correction to $70,000 Before Reclaiming $120,000 (July 2025)If BTC struggles to hold $90,000, it could drop to $70,000 for a deeper correction.After this retracement, a rebound could see BTC reaching $105,000–$109,000, before ultimately achieving the $120,000 ATH by July 2025.This path ensures a more sustainable rally but still concludes with a cycle-ending correction to $40,000.Long-Term Outlook: The Lowest Lows (2026)As the market cools and enters a bearish phase, BTC may experience its lowest low between April and July 2026, targeting:$38,000 (most likely scenario).$33,000 (worst-case scenario).Key Buying Opportunities:For long-term investors, BTC’s anticipated price movements create excellent entry points:First Buy: $41,000Second Buy: $39,000Best Buy: $33,000Summary of BTC’s Cyclical Movement:Short-Term: Fight to stay above $90,000 and potentially hit $120,000 by March 2025.Mid-Term: Correct to $70,000 before establishing a new ATH by July 2025.Long-Term: Fall to $38,000–$33,000 by mid-2026, marking the lowest phase of the cycle.This roadmap emphasizes BTC’s cyclical nature, offering both opportunities and risks for investors to navigate strategically.