Technical analysis by NewThoughtCrypto about Symbol BTC on 12/4/2024

Before I begin, let’s outline the facts: 1.Bitcoin has been in an uptrend since November of 2021. 2.Bitcoin completed the four primary waves, and it is in primary wave 5. 3.Bitcoin’s price surpassed the typical target for a fifth wave, which is the 0.618 Fib Extension. I conclude that the odds of a trend reversal are higher than the odds of a continuation. Where should we look for a top? Predicting the exact time and date is a fool’s errand. However, we do have a guideline. The point at which time and price meet. Price: The 1:1 Fibonacci extension is at 107K Time: Based on the 1:1 Fibonacci time ratio between waves one and five, the time is December 27th. The 1:1 Gann Fan angle perfectly expresses this price-to-time ratio. The price has respected this angle for three years and will continue to do so. The 1:1 angle is dynamic; the point at which price and time meet could be a bit higher or lower than 107K. The date at which price and time meet could be a bit earlier or a bit later. Regardless, it is close.