Technical analysis by muraatboyraz about Symbol BTC on 1/12/2025

I am still following the correction pattern. I think we need a little more time for the decline to be completed. I tried to show the movement I expect roughly on the chart. If such a movement occurs, there are some levels where the price may reach. These are $87,000, which corresponds to the A=C ratio, and $79,000, which corresponds to the A*1.618=C ratio. We have had a month where investors are quite fed up, have lost their faith in the rise or are about to. In this period when the negative thoughts of the community are dominant, I think it is reasonable for the price to go down one more round and go to the peaks for its new movement. My thoughts have not changed for a long time. I will update my opinion in case of possible violations and new scenarios. The downward break of the previous level has occurred. It is useful to be careful. We had a very good reaction from the $89,000 level. If we can get a retest and reaction as I have shown, I will consider the correction to be over.