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 – $117KTiming: 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 $47KPotential double top or failed breakout