BTCUSD Market Analysis- November 1
Bitcoin continues to show signs of strength as buyers regain control, signaling a potential bullish continuation following a period of consolidation between key price levels.
Bitcoin (BTCUSD) Key Levels
Support Levels: $107,100.00, $96,750.00
Resistance Levels: $124,250.00, $136,400.00
BTCUSD Long-Term Trend: Bullish
Bitcoin maintains its overall bullish structure following the higher high formed in July 2025. Shortly after this peak, the market entered a consolidation phase, temporarily pausing the upward momentum.
This consolidation has persisted for some time, with price action fluctuating between the $124,250 supply zone and the $107,100 demand level. Recent developments, however, suggest growing anticipation for a bullish continuation as momentum begins to shift upward.
Upon testing the $107,100 demand level, Bitcoin formed a reverse head and shoulders pattern, a classic bullish reversal signal. This formation, combined with a steady increase in the daily Relative Strength Index (RSI), strengthens the outlook for a potential full-scale bullish recovery in the coming sessions.
BTCUSD Medium-Term Trend: Bullish
On the 4-hour timeframe, Bitcoin’s price action offers a clearer view of its developing strength. The emergence of higher highs within the reverse head and shoulders formation further confirms the early phase of a bullish reversal.
Although a brief retracement occurred, the pullback has now ended as price rebounds sharply from the $107,100 demand level. The 4-hour RSI reflects this recovery, showing a notable rise from the oversold region—adding further confluence to the bullish bias.
A decisive break above the $124,250 resistance level would confirm a strong bullish continuation, paving the way for renewed upward momentum and a potential retest of previous highs.
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