‎Bitcoin Awaits Bullish Resumption as Temporary Pullback Persists

‎BTCUSD Market Analysis- October 29

‎Bitcoin continues to exhibit strong long-term bullish potential despite its current corrective phase, as market structure and key demand zones suggest the ongoing pullback may soon give way to a renewed upward momentum.

‎‎Bitcoin (BTCUSD) Key Levels

Support Levels: $107,200.00, $98,700.00
‎Resistance Levels: $117,700.00, $127,100.00

‎BTCUSD Long-Term Trend: Bullish

‎Bitcoin’s bullish momentum appears to have paused temporarily since mid-July 2025, leading to the current corrective bearish move. Despite this short-term decline, the overall market structure still favors a bullish outlook, suggesting that the ongoing bearish phase is merely a retracement within the broader uptrend.
‎
‎Since the bearish pullback began in July, price action has continued to respect the key $107,200 demand level — a critical zone that has consistently provided support for buyers. As long as this level holds, the possibility of a bullish continuation remains strong. A decisive breakout above the daily trendline resistance is anticipated, and a sustained move beyond it would likely confirm the return of bullish momentum.
‎
‎Although a brief breakout was observed in October 2025, the absence of a proper retest caused price to fall back into the bearish structure. For a confirmed bullish resumption, Bitcoin must breach the $117,700 supply level, retest the trendline, and then successfully surpass the $127,100 resistance zone — which would reinforce the next leg of the upward trend.

‎BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, Bitcoin continues to exhibit a short-term bearish structure as price recently rejected from the trendline resistance. This rejection has set the stage for another downward move, forming a new bearish leg within the prevailing channel.
‎
‎Additionally, the 4-hour Relative Strength Index (RSI) reveals a declining momentum, with values gradually approaching the oversold territory. This suggests that selling pressure may soon diminish, allowing for a potential rebound from the trendline support. Should this rebound occur, it could mark the conclusion of the ongoing bearish phase and signal the start of a renewed bullish cycle.
‎
‎Make money without lifting your fingers: Start using a world-class auto trading solution 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.