Bitcoin sits above $100,000 with another price spurt of up to $165,000 taking off shortly, as depicted on the familiar chart setup.
The price movement of Bitcoin remains in focus, with the cryptocurrency maintaining its grip above the psychological level of 100,000.
Market information shows that there has been a consistent trading range of between 95,000 and 115,000, with analysts indicating that there is a chart pattern that has been associated with a significant breakout in the past.
Recent action resembles the consolidation observed prior to the most recent dramatic rally, which generates the expectation of more upside momentum.
According to market observers, Bitcoin started consolidating in a downward channel after crossing the mark of $116,652, in the same manner in which it had done after it hit the mark of $67,559.
The historic consolidation periods resulted in a straight shot of strong surges, which justifies forecasts that the existing arrangement would drive BTC to 165,000 and beyond.
Descending Channel Could Spark Another Surge
The classic structure of BTC provides indicators of power, as traders see the channel as the build-up to the next impulsive action.
This is highlighted by Javon Marks on X, paraphrased: Bitcoin price is tightening and there are indications of another run with a target of $165,000.
Source – X
Throughout market cycles, technical indicators such as resistance levels at 1.33x and 1.43x of realized price and project targets at 160,000 and 170,000 are within close ranges of each other.
New observations of the MVRV ratio indicate robust backing and ceilings in place that coincide with past peak movements in the sector.
Fundamentals Show Active Support and Predictive Bullish Signals
The exchange reserves of BTC have started to increase following a consistent drop, reflecting the repositioning of traders before high-volume periods.
The price stands stuck at higher levels than any long-term support, such as the powerful 40-week simple moving average, further consolidating the existing bullish trend and technical confidence throughout the market.
Market activity favours a perpetual optimism with a trading volume of $114 billion, indicating that both retail and institutional investors remain active.
As consolidation takes hold, the next impulsive move becomes cemented by major players.
JPMorgan and other banking analysts still hold that BTC can hit a realistic goal of $165,000 by year-end, assuming technical patterns repeat as expected.
Floors of about $100,000 are considered strong, and channel tops might cause huge breakouts as long as momentum exists.
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2025-11-07 08:50