Technical analysis by ScottMelker about Symbol BTC: Buy recommendation (11/20/2025)

Bitcoin finally retraced to my biggest area of bids, spread around $88,000. I have been talking about this level since April, when it was broken to the upside. I tweeted about it repeatedly over that period. Did I know it would happen? Absolutely not. That is why I dollar cost average as well. But it did look like a glaring level to buy if we got another major correction. You may remember that I viewed $74K in the same manner when price was above $100,000 the first time. These were simply 2 major levels of resistance (in my mind) that were likely to be retested as support… and you can’t know a major level is support unless you test it. This bounce could be technical, as we have seen oversold conditions with bullish divergence on almost every time frame. I still feel like Bitcoin is in the process of bottoming here and that is most likely just another 30% correction in an uptrend. I am bidding 74K again as the next area of interest, just in case.