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

Current Price: ~$85,295 Wave 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 $58,000 Major support: $46,000–$50,000 📉 Suggested Trading Strategy ScenarioSuggested Action If price moves up to 92K – $GETTEX:97K (Wave B)Look to short — likely entry point for Wave C If price fails to reach that highConsider short positions from 88K –$90k if reversal signals appear If you're already in a short tradeHold your position and watch for confirmation of Wave C continuation If planning to go longWait until Wave C completes — potential long entry in the $50k–$58k range 🧠 Overall Outlook The 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