Technical analysis by limitlessroh about Symbol BTC on 1/2/2024

BTC Current wave breakdown-Speculating 48K to be a resist level, and 40K to be a support level.--Looking at the fib of the 65-15K correction,--Neither the 0.382 nor 0.5 range worked as a resistance level, making 0.618(48K) compelling to be the top of this wave.--48K is also the end of the thickest value area within 64-15K correction--Historically, BTC topped at Fib 0.618 level of a total bear market move twice out of three, in 2016 and 2019, before it had a substantial pullback. Only in 2013, it topped at 0.5.-The wave from $FWB:25K-current 45K is impulse-able if it makes 3-4 more tops with corrections in between.-If it finishes an impulse, there will be a big correction, minimum to 27K, then BTC is set to explode, entering a bull market for a new ATH.Sub scenario: ABC-ing or ended-It could drop from any now, or top at 50K without a correction.-At least drops to 26.7k.-Likely to triangle, double three, or triple three. (80%)-Potentially breaks 15k level. (20%)TLTR: BTC will be going sideways between 40k-48k for months. Suppose it makes 3-4 more tops from now, the future is bright. Less than three tops, not so much.