Buying Bitcoin when consolidating above $89,000

Bearish sentiment hangs over the BTCUSD pair. This is confirmed by breaking through the key psychological level of $90,000. Current dynamics indicate that the downward trend will continue, with sellers being active and any rebound attempts facing strong resistance.

The technical setup corresponds with the overall picture. The price consistently holds below the Bollinger Bands midline, underscoring the continued dominance of bears, while touching the lower limit indicates extreme oversold conditions from a volatility perspective. The Chaikin Oscillator, having reached deeply negative values, demonstrates significant capital outflows and strong bearish pressure. Meanwhile, the Stochastic Indicator is also in the oversold zone. Although its lines around 18 might hint at a possible exhaustion of selling momentum in the future, a clear reversal signal has not yet formed.

From a fundamental perspective, the situation is exacerbated by a broad deterioration in risk appetite across global markets. Investors are revising their expectations regarding imminent interest rate cuts by the US Federal Reserve (Fed), which is weighing on all speculative assets, including cryptocurrencies. This is prompting institutional investors to take profits and reduce their positions.

Another negative factor is the significant outflows from spot Bitcoin ETFs, which, combined with selling from long-term holders, is increasing supply in the market. As a result, even positive industry developments, such as the industry’s support from the Trump administration, are unable to reverse the sentiment amidst the general flight from risk.

Take a look at the following trading strategy:

Resist buying Bitcoin before the reversal is confirmed. It is better to wait until the pair firmly consolidates above the $89,000–$90,000 range. Place Take profit 1 at $93,500, Take profit 2 at $96,160, and Stop loss at $86,000.

The forecast remains relevant between November 18 and November 25, 2025.