‎BTCUSD Maintains Bearish Structure as Price Tests Key Demand Levels

‎BTCUSD Market Analysis- November 20

‎Bitcoin continues to exhibit a dominant bearish structure as price action approaches key demand zones that may influence short-term market reactions.

Bitcoin (BTCUSD) Key Levels

‎Support Levels: $89,200.00, $76,400.00
‎Resistance Levels: $101,300.00, $114,900.00

‎BTCUSD Long-Term Trend: Bearish

Bitcoin continues to maintain its broader bearish structure despite the strong bullish advancement recorded in early April 2025. Price initially created a new high and briefly breached the $114,900 supply level before sellers regained control, triggering a sustained decline.
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‎By October, the market had fully transitioned into a bearish reversal, with price slipping below the $101,300 supply level and descending toward the $89,200 demand region. At this demand zone, Bitcoin is beginning to show early signs of potential relief, as minor bullish reactions appear alongside an oversold signal on the daily Relative Strength Index.
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‎Although these indications suggest a possible short-term bounce, there is still no confirmed evidence of a larger bullish recovery. It is advised to remain cautious, as any upside movement is likely to struggle below the $101,300 supply area if the broader bearish trend is to remain intact.

‎BTCUSD Medium-Term Trend: Bearish

‎The 4-hour timeframe reinforces the prevailing bearish bias, clearly presenting a well-defined descending channel. Price recently tapped the channel’s support boundary—a level that has historically triggered temporary bullish recoveries.
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‎The 4-hour Relative Strength Index also reflects an oversold environment with gradually increasing upward momentum, supporting the probability of an impending bullish retracement. However, this projected upward move is expected to remain corrective in nature, likely heading toward the channel’s resistance before the broader bearish momentum resumes.‎

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