Date: Fri, Nov 14, 2025 | 06:15 AM GMT
The cryptocurrency market remains under intense pressure as both Bitcoin (BTC) and Ethereum (ETH) recorded steep declines of over 5% and 9% respectively in the last 24 hours. The sell-off wiped out more than $1 billion in liquidations, with long positions taking the biggest hit — over $891.21 million cleared in a single day.
Bitcoin has now corrected from its 24-hour high of $104K to test the $97K region. Yet despite the bearish tone, the chart reveals a technical structure that may be preparing BTC for a potential rebound. Price action continues to respect a crucial support zone that has repeatedly cushioned major pullbacks in recent months.
Symmetrical Descending Broadening Wedge in Play
On the daily chart, BTC remains inside a symmetrical descending broadening wedge — a structure that typically appears during corrective phases and often precedes a bullish reversal once volatility expands and buyers regain control.
The latest rejection near $107K pushed BTC straight toward the wedge’s lower trendline, dipping briefly below $96K before buyers stepped back in. The price is now holding above $97K, sitting directly on the wedge’s lower support, an area highlighted multiple times as a strong defense line for bulls.
This region has previously acted as a dynamic support, absorbing heavy selling pressure and preventing deeper breakdowns. Its continued strength suggests buyers are actively protecting the broader uptrend structure. As long as BTC remains above the lower boundary of the wedge, the probability of a rebound remains favorable.
What’s Next for BTC?
If BTC continues to hold this crucial support, it could build enough strength for a short-term recovery toward the 200-day moving average, which currently sits near $110,362 — also aligning with the upper half of the wedge. A breakout and daily close above this level would serve as a strong bullish signal, opening the door for a broader continuation toward the $120K–$130K resistance band.
However, if sellers manage to break BTC below the wedge’s lower trendline, the bullish thesis would weaken significantly. Such a move could expose the price to deeper downside targets, with the mid-$88K region acting as the next major support.
For now, Bitcoin’s technical structure remains cautiously optimistic. The wedge pattern is still intact, and the recent reaction around $97K shows that bulls are not yet ready to surrender. If overall market sentiment stabilizes and buyers maintain control at support, BTC may soon be positioned for a stronger upward push out of this consolidation phase.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators are subject to rapid market changes and may or may not play out as expected. Investors should conduct independent research and make decisions that align with their personal risk tolerance.
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