Technical analysis by phyrix about Symbol BTC on 1/1/2025

Recent movement shows btc rejected on the trendline resistance of the connected ATH starting point of 2017. Establish a Bullish Cypher from the previous cycle with main PRZ around 21k and Target extensions sitting at 98k~117k. Starting point of 2022 ATL, establish a 5wave count uptrend. Plot ABCD pattern where AB=CD around 98k, "C" retracement fib0.50 = "BC" extension fib2.0. If this pattern plays-out, TP1 could be aim at "C"=50k, following TPs at CD*1272/1618. A Gravestone Doji has been printed on the monthly candle closing, next bearish pattern continuation for this will be an Evening Star. On the otherside, a breakout of trendline and an extension of Wave5 could still be possible since current cycle carry the loads of ETFs.