Bitcoin Price Action: Banmuxia Sees Sideways Movement, Ending Wedge and High-Risk Short Near $110K, Possible Long After Drop to $95K

According to COINOTAG News on November 11, Chinese analyst Banmuxia notes that Bitcoin has traded in a sideways channel since August, with the current C wave potentially forming an ending wedge that could complete the broader W wave correction. The scenario suggests a potential high-risk‑reward short near $108,500–$110,000 if price action confirms the pattern, but traders should apply strict risk controls and await candle‑based validation before taking positions.

If price action tests around $95,000 and forms a triple-bottom divergence as the sideways pattern completes, a Y wave rebound could unfold, potentially enabling a credible long setup at that juncture. Market participants should corroborate the thesis with other indicators and remain disciplined, avoiding overcommitment until the move is clearly confirmed.