Technical analysis by FXNEWSCLUB about Symbol BTC on 11/21/2025

Bitcoin is approaching one of the most critical phases of the current market cycle. With price moving inside a long-term ascending channel since 2018, the next few months will define whether BTC continues its macro bullish trend or enters a deeper discount zone before the next rally. Here’s a clear breakdown using Price Action, Smart Money Concepts, and Macro Fundamentals. 🔹 1. Market Structure BTC continues to respect a multi-year ascending channel with: Upper resistance: ~139,000 Midline dynamic level: ~99,000 Major support: ~55,000 The recent correction from 120k down to the 80k range shows BTC has moved from a premium zone into a balanced structure. 🔹 2. Price Action Insights Rejection occurred at the 93,300 zone, which turned into a key supply level. Price is forming a lower high, signalling potential mid-term weakness. BTC is currently consolidating between 85k support and 93k resistance. This compression phase will decide the next major breakout. 🔹 3. Smart Money Concepts (SMC) View BOS (Break of Structure): A key bearish BOS formed on the daily chart. Upside FVG: 108k–112k remains unfilled. Downside FVG: Around 75k. Premium vs Discount: BTC is entering discount territory, but true institutional demand lies around 55k–60k. Two SMC Scenarios Bearish Path: Liquidity grab → 93k rejection → move to 55k channel support. Bullish Path: Sweep below 80k → reclaim 93k → continuation toward 100k+ → attempt at 139k. 🔹 4. Fundamental Factors Bullish Drivers: Strong ETF inflows Post-halving supply shock Expected global rate cuts Increasing crypto adoption in MENA, Asia & LATAM Bearish Risks: Regulatory pressure in the U.S. Liquidity tightening High leverage across futures markets 🔹 5. Final Outlook BTC is at a decision zone. 📉 Scenario 1: Retest of 93k fails → deeper correction toward 55k demand 📈 Scenario 2: Break above 93k → push to 100k → extension toward 139k channel top Regardless of the short-term direction, the macro structure remains bullish.