Technical analysis by Nadia_farhat about Symbol BTC: Buy recommendation (10/23/2025)

Overview: Bitcoin is trending within an ascending wedge pattern, with prices rising after testing the lower wedge’s zone confluence with the lower Bollinger band. The prices are approaching the immediate resistance near 110500 (between fib zone of 23.6% & 38.2%). If this resistance zone is breached & sustained then levels above 114000 could be witnessed. Biasness: Bitcoin moved little on Thursday, struggling to gain momentum and retaining a bulk of recent losses as risk appetite for cryptocurrencies was quashed by resurgent concerns over a U.S.-China trade war. Key Levels: R1: 110500 R2: 114165 S1: 107575 S2: 103500 Data Release: Gold traders are closely watching the upcoming U.S. Jobless Claims & Existing Home Sales data, which could influence the dollar’s movement and inject short-term volatility in the bitcoin. Technical Analysis: The prices are trending in the buying zone of technical indicators – above the middle Bollinger band & the neutral 50 level of RSI, signaling rising bullish pressure. Alternative Scenario: If prices fails to breach & sustain above R1 (110500), & falls below middle Bollinger band (109550), then bearishness may initiate. While writing the report, the pair is trending at 109985.