Bitcoin remains in an ascending channel forming higher highs and higher lows around the crucial lower trendline support.
Extreme readings on the Steroid CCI indicate oversold conditions, often preceding a recovery and aligning with potential macro bottom formation.
BTC projections suggest renewed strength is aiming for all-time highs near $170,000 and even higher headed to 2026.
Bitcoin Eyes Critical Recovery Zone at $94K. Currently,BTC trades at $95,760, down 6.5% this week.Traders are watching for a potential rebound amid extreme oversold momentum signals.
BTC Approaches Critical Support
Bitcoin’s ascending channel pattern is forming consistent higher highs and higher lows. The lower trendline has acted as support which has often triggered rebounds during pullbacks.
Analysts BitBull on X noted that BTC might dip below $94,000 before reclaiming key zones.The weekly chart shows the market at a juncture where a higher low must form to preserve the bullish structure.
Source BitBull Via X
A weekly close above the trendline suggests buyers are defending this support increasing the likelihood of holding it as a support zone.
A decisive breakdown from this channel could open possibilities for retracements toward the mid-$80,000 range but holding it may lead BTC toward the projected upward targets between $135,000 and $150,000.
Momentum Indicators Signal Oversold Conditions
Ash Crypto highlighted that Bitcoin’s “Steroid CCI” is showing extreme oversold readings. Historically, readings below –100 have coincided with late-stage corrections or capitulation phases. Such levels often precede relief rallies in BTC price.
The bullish strength decreased throughout 2024–2025 despite new highs and indicates the market could be entering a consolidation or re-accumulation phase.
$BTC "Steroid CCI" is now showing the most oversold ever.
I think Bitcoin is very close to a bottom now. pic.twitter.com/MbdizEP0wP
— Ash Crypto (@AshCrypto) November 15, 2025
Momentum indicators suggest that BTC may be forming a potential bottom for recovery.Analysts anticipate a sweep of liquidity around $93,460 before a rebound, which may test short-term resistance near $97,463 and further targets up to $104,076 if volume confirms the recovery.
Upcoming Market Events and Projections
Some analysts expect Bitcoin to enter an accumulation phase by late November as they anticipate that the Federal Reserve will cut rates by 50 basis points on December 10, 2025.
Analysts are expecting that these developments will help Bitcoin surpass its previous all-time highs, potentially reaching around $170,000 by January–February.As the trend goes up Ethereum is expected to exceed $6,000.
These factors combined with momentum indicators and upcoming economic events could possibly cause a bullish trend for the market.
