Technical analysis by melikatrader94 about Symbol BTC: Buy recommendation (10/1/2025)

Hi guys! Bullish Divergence Bitcoin has recently formed a bullish divergence, which signals that selling pressure is weakening and buyers are stepping in. Double Bottom Formation A double bottom pattern is clearly visible, but the critical neckline resistance around $118,163 hasn’t been broken yet. This area is the key confirmation level. Potential Breakout Thanks to the bullish divergence, there’s a strong possibility that BTC will break above this neckline in the coming sessions. Long Position Strategy The safest long entry would be after the neckline breakout and a small pullback (correction) to confirm support. This reduces the risk of a false breakout. Target Projection If confirmed, the double bottom pattern projects a target around $124,600, offering a solid upside potential from the current levels. Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.