Bitcoin Price Prediction: Can $110K Hold Amid BTC $125K Recovery?

BTC Cycle Mirrors 2017–2021 Structure, Hinting at $200K

After an extended volatility, Bitcoin (BTC), the biggest crypto, is splashing in global markets. Traders are also monitoring the next move as the price fluctuates between significant support and resistance zones.

Additionally, BTC has been established as a rhythmic asset, and the market dynamics have added weight to the sentiment. Like in the past, the token seems to be going through a pattern of consistent upsides and cooldowns, followed by an eventual rally. This similarity to the previous market structures indicates that another breakout could happen.

On the daily chart, Bitcoin has met a strong rejection at $116,000, leading to a short-term pullback, which suggests profit-taking by investors. A dip toward the $110,000 support, coinciding with a CME gap, remains possible before a continuation. 

BTCUSD 1D CHART | SOURCE: X

However, if the support is held, momentum could swiftly change upward to between $117,000 and $119,000. Reclaiming this mid resistance range would be a sign of renewed strength, which will result in a run towards the ceiling of $123,000-$125,000.

BTC Cycle Echoes 2017–2021 Structure

On a broader perspective, Bitcoin is trapped in a long-term rising trend, reflecting past patterns of 2017 and 2021. Analyst Trader Tardigrade pointed out that the current cycle, which extends between 2023 and 2025, maintains this bullish pattern of higher lows and steady accumulation.

BTCUSD 1M CHART | SOURCE: X

Notably, all the past cycles came to a similar consolidation after which BTC broke out into a parabolic surge. If this rhythm sustains, the targets of potential upside could be between $160,000 and $210,000. In the meantime, institutional inflows and macroeconomic easing are reinforcing the foundation for sustained growth.

October Dip Sets Bitcoin’s Recovery Run

Although the change of -1.42% in October is negligible, the month's historical statistics have been recorded to be the launchpad of the end-of-year recovery. Analyst Carl Moon pointed out that November and December have followed periods of weakness with huge rallies. As inflows increase and network activity boosts performance, the present condition could signify another moment for patient investors.

Bitcoin Monthly Returns(%) | Source: X

Most important to note in the short run is sustaining the level of $110,000, as the support could lead to an upsurge to the upper end of the channel. Although volatility will be experienced in the short term, the structure indicates that the crypto is about to enter its next growth stage.

At the time of reporting, BTC is trading near $111,000, slightly above the critical support of $110,000.