Technical analysis by SPOONY1004 about Symbol BTC: Sell recommendation (6/1/2025)

106,600$ → 100,300$ → 116,000$ The third extended wave of Bitcoin has completed, and it is now going through a correction phase. Wave 4 corrections often retrace to the 0.382 Fibonacci level. Therefore, a price drop to that level is expected — around $106,600. This correction is unfolding as a W–X–Y pattern. In wave W, the internal ABC subwaves completed with wave C reaching 1.618 times the length of wave A. Currently, Bitcoin is in the rising phase of wave X. No one knows how high wave X will go, but what’s important is that after wave X finishes, one more lower low is expected — again around $106,600. At that price level, I plan to open a $2 billion long position with 10x leverage.