Technical analysis by Cryptarch_ about Symbol BTC: Buy recommendation (2/8/2025)

85K is the 0.5 fibbonachi level measuring from the breakout of downtrend in Nov 24 to ATH. There is a liquidity Zone between 86-89K.Fair Value Gap between 77-85KNext liquidity Zone @ 74-76K. Which also marks the 0.5 fibbonachi from the swing low in Aug 24 to peak. 74K is also the previous ATH meaning that there are 3 points of confluence. Believe that the whales could grab liquidity Zone 1, move easily through FVG, grab the 2nd lot of liquidity before seeing a reversal to the upside.A touch on the uptrend and moves to "oversold" on RSI would add further confluence.A long entry @ 75K could be favourable.If this pattern plays out it would be a -24% drawdown on BTC and alts are correlated by roughly 2:1 therefore a move down for alts of 50% could be on the cards.Bitcoin has always peaked in November or December of the year following the halving event. And it is believed that we could see a big, brief move down in Feb before seeing a new ATH printed Nov-Dec 25.