Technical analysis by x_ebitda about Symbol BTC: Buy recommendation (2/24/2025)

This Bitcoin/USD (BTCUSD) weekly chart on Coinbase includes:Fibonacci retracement levels from ~50K to ~97K.Three historical uptrends, marked with white trend lines, aligning with previous bull runs.SMA 50 (blue line) at ~75K, acting as a major support level.Current BTC price at ~93K, testing previous all-time highs.Fibonacci extensions suggesting potential targets:1.618 (~127K)2.618 (~174K)- The white trend lines represent Bitcoin's historical bull runs, showing a repeating pattern of parabolic uptrends before a major correction. Here's what they reveal:1️⃣ 2017 Bull RunSteep incline leading to BTC’s first real mania phase.Price surged from sub-1K to ~20K before a massive correction.The trend line broke, confirming the end of that cycle.2️⃣ 2020-2021 Bull RunSimilar structure to 2017, but with more consolidation before lift-off.Price rallied from ~10K to ~69K before breaking down.The trend line served as an early warning of the 2022 bear market.3️⃣ 2023-2024 Bull Run (Current)The trend line is still intact, meaning BTC is respecting the current bullish structure.Price is testing previous ATH (~97K zone).Break above? 127K-174K targets in play (Fibonacci extension).Break below? 75K SMA becomes a key level to watch.