Looking at BTC on a higher time frame (Figure 1), Bitcoin’s current candlestick pattern is near the weekly MA200—a remarkable level where every bull-bear and bear-bull transition has historically played out. On a smaller time frame, Bitcoin has now completed the third upward leg of its recovery (1 up, 2 down). The third upward leg has formed a minor impulse wave and is currently undergoing a correction. A reasonable correction zone lies above $63,000, with an extreme limit at the start of this upward move (around $61,800). If the correction concludes above $63,000, there is potential for further upward expansion. A 1:1 target for the two upward legs would be $68,692.