Technical analysis by The_Alchemist_Trader_ about Symbol BTC on 10/22/2025

Bitcoin price action continues to display signs of prolonged consolidation, with a well-defined trading range now forming between $98,000 support and $124,000 resistance. This structure highlights a period of equilibrium in the market as participants await a decisive breakout. The lower boundary of this range, near $98,000, has not been tested since June 2022, making it a critical support region to monitor. A successful retest and hold of this level would confirm continued stability within the current consolidation pattern, suggesting that Bitcoin remains in a rotational cycle between these established boundaries. Key Points: - Range Support: Established at $98,000, last tested in June 2022. - Range Resistance: Defined at $124,000, capping upside momentum. - Market Structure: Price remains range-bound, indicating continued accumulation or distribution. From a technical standpoint, this extended sideways movement represents the market’s process of absorbing liquidity before its next major expansion phase. Until a breakout occurs, traders can expect repetitive oscillations within this broad channel. What to Expect: As long as $98,000 holds as support, Bitcoin may continue to rotate higher toward $124,000. A breakdown below this level, however, could invalidate the range and trigger deeper corrective movement.