Technical analysis by ScottMelker about Symbol BTC on 11/24/2025

Friday’s candle had a long wick down on the highest volume we have seen in the entire sell off. This is usually a sign of a local bottom at the very least, as sellers give one last attempt to push price down and buyers step in, preventing price from advancing further below. Sunday’s candle was bullish, giving more confidence that price may be bottoming in this area. Remember - bottoming is a process. Another push down would likely give us bullish divergence with heavily oversold conditions and a true bottom signal. I still believe this is a correction in a generally bullish Bitcoin market and that we will push back up, at least to the low 100Ks to test the weekly 50 MA as resistance.