Technical analysis by khaledabdrabo about Symbol BTC: Buy recommendation (4/16/2025)

📊 Fibonacci Levels: 100% Fib extension (~$74,146): Currently acting as a key resistance — price is reacting to it. 127.20% ($93,137) and 141.4% ($103,051): Next major resistance zones — likely targets if the uptrend continues. 161.8% ($117,259): A very bullish projection, and possibly the top of Wave (5). These are classic take-profit levels for longer-term bulls. 🔁 Elliott Wave Count (Speculative): The chart seems to be suggesting a Wave (3) top around current or slightly higher levels. A Wave (4) correction is expected to drop toward the midline of the ascending channel (possibly 65K –$68K area). Followed by a final Wave (5) rally — possibly targeting $103K to $117K. This is a bullish long-term outlook with one more correction before the final blow-off top. 📐 Trend Channel: The price is trading within a long-term ascending channel, respecting both support and resistance very well. Wave (5) projection is pointing to the upper boundary of the channel — potentially aligning with the 161.8% Fib at $117K. 📉 Support Zones: 65K to $68K: Strong area of potential support (between 86%–100% Fib and mid-channel). $47K: 61.8% Fib — solid structural support if there's a deeper correction. 🔺 Bearish Warning: The red arrow near the top suggests a potential rejection around the $93K–$103K area. Could lead to a false breakout or a sharp Wave (4) correction. 🧠 Summary – End of 2025 BTC Outlook Based on This Chart: Scenario A (Bullish): 📈 Target: $103K – $117K Timing: End of 2025 (Wave (5) peak) Conditions: BTC holds 65K –$68K on corrections, follows Elliott Wave path. Scenario B (Bearish Rejection): 🔻 Pullback to 65K or even $47K Potential double top or failed breakout