Technical analysis by LogWuCappital about Symbol BTC: Buy recommendation (3/24/2025)

Current Price: ~$85,295Wave A of an ABC corrective structure has completed (a sharp downward move).Wave B is currently forming — expected to retrace upwards to the $92,000–$97,000 region.Next Move: After Wave B, a significant Wave C decline is anticipated — targeting the $46,000–$58,000 zone.🌀 Elliott Wave Breakdown✅ Key Waves Identified:The final Wave 5 of the impulse cycle has topped out around ~$100,000.A corrective ABC pattern is now unfolding:Wave A: Completed with a 5-wave downward structure.Wave B: Currently in progress, following a typical 3-wave (a-b-c) correction.Wave C: Expected to be a strong downward move, continuing the overall correction.🔁 Key Support & Resistance Zones:Short-term Resistance: ~$97,000 (potential top of Wave B).Key Support Levels:$73,000$64,000$58,000Major support: $46,000–$50,000📉 Suggested Trading StrategyScenarioSuggested ActionIf price moves up to 92K–$GETTEX:97K (Wave B)Look to short — likely entry point for Wave CIf price fails to reach that highConsider short positions from 88K–$90k if reversal signals appearIf you're already in a short tradeHold your position and watch for confirmation of Wave C continuationIf planning to go longWait until Wave C completes — potential long entry in the $50k–$58k range🧠 Overall OutlookThe current wave pattern indicates a medium-term correction phase.The broader trend is bearish until the ABC correction fully plays out.Be cautious of strong upward retracements within Wave B — they often trap inexperienced