Buying Bitcoin near support as price consolidates and US trade rhetoric eases

Following a strong bearish momentum, BTCUSD is now consolidating between a critical support level at $108,500 and resistance at $116,000.

Technical indicators confirm the sideways movement. The Stochastic Oscillator (5, 3, 3) is in the neutral zone (%K=51, %D=48), with neither overbought nor oversold conditions, contributing to the current balance. The Chaikin Oscillator, however, remains in positive territory despite the price decline. This suggests that while the BTCUSD market is seeing some capital outflow, it is not critical. The divergence between the oscillator and the Bitcoin rate may help prevent a collapse and could encourage the accumulation of positions within this range.

The rebound on October 12 near $108,500—which now serves as the lower boundary of the potential range—and resistance at $116,000 form a channel where quotes are likely to fluctuate in the coming days.

Fundamental factors partially support the consolidation scenario. Persistent trade tensions between the United States and China, along with whales building up short positions, are limiting Bitcoin’s upside potential. However, Trump’s softer stance and reduced market turbulence are easing selling pressure, preventing a further decline.

Given a high volatility expected in the coming days, the most probable scenario until October 21 is a continuation of trading between $108,500 and $116,000. To exit this range, the market will need a strong fundamental catalyst, such as unexpected geopolitical news or key macroeconomic data from the US. If significant bullish momentum emerges, the price could test $120,000, though this seems unlikely under current circumstances.

Pay attention to the following trading plan:

Buy Bitcoin near support at $108,500. Take profit 1: $116,000. Take profit 2: $120,000. Stop loss: $105,600.

This forecast remains relevant between October 14 and October 21, 2025.