Bitcoin is forming a sustainable recovery phase after testing the $99,000 level.

Today, the flagship cryptocurrency Bitcoin (BTC) is trading near $106,100, recovering from a correction that reached a low of $98,900 last week. CryptoQuant analysts noted that this level coincides with the short-term holders' price realization zone—a key liquidity cluster from which the digital currency's price recovery began.

The researchers emphasized that from April to July 2025, Bitcoin's price was in a steady uptrend, but from August to October, movement was limited to the $99,000–$123,000 range. Current activity near the lower boundary indicates a local bottom and the beginning of an upward rebound. According to the experts, this scenario could lead to a test of the key resistance at $123,000.

Technical indicators support cautious optimism. The EMA14 line is still below the SMA30, indicating weak short-term momentum. However, experts noted that the market structure points to a transition to a bullish phase, which, according to experts, could last until the end of November.

Trading volumes increased significantly during declines, indicating increased buying activity. Important local resistance levels remain $110,000–$112,000. A sustained breakout above $111,900, corresponding to the realized holding price for up to six months, could signal a resumption of medium-term growth.

Analysts emphasized that maintaining support above $95,000 confirms the scenario of consolidation and gradual recovery. If the current momentum continues, the BTC market could enter a more pronounced bullish phase with a retest of the historical range of $120,000–$123,000 in the coming weeks.

Source: cryptonews.net