Bitcoin (BTCUSD) Market Sustains Bearish Bias as Downtrend Deepens
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Bitcoin Price Prediction – November 6
BTCUSD market sustains bearish bias as downtrend deepens. Bitcoin maintains a downside trajectory, with price action firmly positioned beneath the 9-day Simple Moving Average around $107,100.
The MACD indicator further validates this sentiment, displaying expanding negative bars and a bearish crossover that highlights persistent selling strength. Market behavior remains broadly defensive, with sellers retaining control after multiple unsuccessful attempts by buyers to reclaim higher resistance levels.
BTC/USD Market Key Levels:
Resistance Levels: $110,540, $118,000, $124,530
Support Levels: $102,110, $92,000, $85,010
BTC/USD – Daily Chart
The BTCUSD daily chart shows a continued bearish move as more bulls take profits.
Technically, BTCUSD has breached the significant support near $107,000, converting that zone into a fresh area of supply. The asset currently trades close to $103,500 following a brief pullback, forming a consistent pattern of lower highs and lower lows indicative of an extended downtrend. The rejection from the $110,500 region reflects firm bearish conviction, confirming a structural bias toward continued weakness in the short term.
Bitcoin has been in a bear market the entire year and now everyone is flipping bearish and calling for a bear market 🧐 pic.twitter.com/Ea5qDWoWmP
— Kale Abe (@kale_abe) October 30, 2025
In this Thinking Crypto podcast episode, host Tony Edward provides an in-depth analysis of the current state of Bitcoin and the cryptocurrency market. The episode primarily focuses on Bitcoin’s recent price dip below $102,000 and the technical indicators signaling that the market could be entering a critical phase. Tony highlights the monthly MACD indicator nearing a bearish crossover, which could signify a potential shift from bull to bear market if a reversal does not occur soon.
Despite some bearish signs, he stresses the importance of basing decisions on data rather than emotions, pointing out that extreme fear in the market, coupled with oversold RSI levels, often precedes a reversal. Market sentiment, macroeconomic factors such as global liquidity, and key upcoming legislative and industry events also play a significant role in shaping the outlook.
What is the likely projection of BTCUSD?
In the near future, a minor retracement toward the $107,000–$110,000 corridor could occur before the downward movement resumes. Should bearish momentum persist, Bitcoin is expected to revisit the $96,000 level and potentially probe the $92,000 support area. Only a decisive break and close above $110,500 would signal a meaningful shift in market sentiment and invalidate the current bearish framework.
Bitcoin (BTC) Current Statistics
The current price: $103,520
Market Capitalization: $2,050,000,000,000
Trading Volume: $57,210,000,000
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