Technical analysis by MaxDDM about Symbol BTC: Buy recommendation (12/17/2024)

Chart price scale is Logarithmic.Fib ranges are based on log scale.The multi year inverse head and shoulders is supporting the 1.414 level at ~$128,000.The calculation for this structure is displayed on the chart. Subtract the range below the neckline and add it to the neckline break price level.The 7 month consolidation in the form of a bull flag is displaying potential for over performance to the 1.618 level at ~$175,000. The previous cycle reached the 1.618 level.In previous cycles, RSI levels reached 85+.The current RSI value is at 78 which supports room for expansion.The MACD is vertical and rapidly expanding.With the current velocity, my targets to the upside are $129,000 and $175,000 in Q1-Q2 of 2025.