Technical analysis by bamdadsalarieh about Symbol BTC: Buy recommendation (12/25/2024)

In our previous update, published on November 30th, we anticipated the completion of wave IV of A of (5) retracement on BTC, which was aligned with a 20-week (20W) cycle trough expected in the third week of December. Now, the wave IV retracement has been completed and the 20-week (20W) cycle trough has been confirmed. As previously mentioned, the next major trough is the 40-week (40W) cycle, projected for May 1st, 2025. In the short term, we expect BTC to push higher to complete wave V, followed by a bearish phase in March and April. A potential target for the peak is 121,500.