Technical analysis by AlexeyWolf about Symbol BTC on 11/23/2025

This analysis is based on the Initiative Analysis (IA) method. Hello, traders and investors! On the monthly timeframe, the last buyer candle with increased volume appeared a year ago — in November 2024. From that point, buyers attempted to resume the trend twice. The first attempt — in January — formed the level 89,256. The second attempt came after a manipulation of the 89,256 level between February and April 2025. This led to the formation of a new buyer initiative with: — upper boundary at 126,199, — lower boundary at 74,508. The current buyer target from this initiative is 109,608. Now the price has returned to the volume accumulation zone created during that manipulation — the 86,000–79,500 range. The blue band on the chart marks the minimal price range where 50% of the candle’s volume was accumulated. The blue line marks the price of the maximum volume inside that candle. The daily candle from 21.11 has entered the 86,000–79,500 range with the largest volume since April 2025. (And April 2025 was exactly when the 89,256 level manipulation took place.) This confirms buyer interest in this price zone. This daily candle is part of the forming seller initiative. The upper boundary of this seller initiative is 93,836, while the lower boundary is not yet defined, as the seller move has not been stopped by a buyer candle. Any market scenario remains possible. With strong seller pressure, the price may fall below 74,508 (lower boundary of the monthly buyer initiative) or even below 66,835 (the low of the November 2024 buyer candle). A consolidation phase is also possible — and even the most likely — but for that, we first need to see a buyer candle, followed by a return to 89,256 or higher. We continue to monitor the situation. Wishing you profitable trades!