On November 14 and 15, Bitcoin formed an inside-day candlestick pattern, indicating indecision between bulls and bears.
BTC/USDT Daily Chart | Source: TradingView
The upward sloping moving averages and the relative strength index (RSI) in the overbought zone suggest that the bulls have the upper hand. If the price breaks and closes above $93,265, the next leg of the rally could begin and head towards the crucial $100,000 level. The bears will attempt to stall the rally at $100,000, but if the bulls prevail, the uptrend could extend to $113,331.
Conversely, if the price reverses and breaks below $85,000, the BTC/USDT pair could see a sharp sell-off, which could send the pair down to the 20-day exponential moving average (EMA) at $78,496.