‎Bitcoin Trends Bullish Amid Short-Term Weakness

‎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.
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‎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.
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‎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.
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‎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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