BTCUSD Market Analysis- October 18
Bitcoin continues to display a strong long-term bullish outlook despite recent short-term bearish movements suggesting a temporary decline.
Bitcoin (BTCUSD) Key Levels
Support Levels: $101,600.00, $92,700.00
Resistance Levels: $110,900.00, $123,700.00
BTCUSD Long-Term Trend: Bullish
Despite its recent bearish fluctuations, Bitcoin still has a generally bullish long-term prognosis. Price movement verified a bullish breach of structure after a period of consolidation between June and July 2025, establishing the present upward bias that is still in place.
After this breakout, BTCUSD entered a prolonged consolidation phase between the $123,700 and $110,900 levels, spanning from August until the recent bearish breakout. Although this move to the downside suggests short-term weakness, it has not invalidated the overall bullish trend since the key $101,600 demand level remains intact.
Furthermore, the daily Relative Strength Index (RSI) shows that Bitcoin is nearing the oversold zone, indicating that bearish momentum may soon fade. As long as the $101,600 demand zone continues to hold, Bitcoin is expected to stabilize and resume its upward trajectory in line with the prevailing bullish structure.
BTCUSD Medium-Term Trend: Bearish
In the medium term, Bitcoin’s structure remains bearish following the recent downside breakout from consolidation. Price continues to decline and is currently positioned below the 4-hour Moving Average, reinforcing the ongoing bearish sentiment.
However, the 4-hour RSI has also entered the oversold territory, signaling that downward pressure might be losing strength. While some extended weakness may persist in the short term, a potential reversal is anticipated once price reaches the $101,600 support area. A clear bullish shift in structure from this level could mark the beginning of a renewed upward trend in the medium term.
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