‎BTCUSD Trends Bearish With Potential Short-Term Pullback

‎BTCUSD Market Analysis- November 15

‎Bitcoin continues to trade within a dominant bearish structure, yet current market conditions suggest a potential short-term pullback.

‎Bitcoin (BTCUSD) Key Levels

Support Levels: $95,200.00, $85,900.00
‎Resistance Levels: $105,900.00, $119,400.00

‎BTCUSD Long-Term Trend: Bearish

‎Bitcoin continues to extend its bearish structure after breaking a key support, signaling the start of a new downward phase marked by a fresh major low. Price has now tested the $95,200 demand level, where early signs of support are emerging, increasing the likelihood of a short-term bullish pullback.
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‎Supporting this outlook, the daily Relative Strength Index (RSI) is currently in the oversold zone, indicating weakening bearish pressure and the potential for a temporary rise in momentum. As the RSI begins to recover, the probability of a corrective rally strengthens.
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‎This anticipated pullback is expected to revisit the daily bearish order block, which remains the primary point of interest for sellers. Once price taps into this zone, bearish continuation is likely, with sellers aiming to drive BTC toward the $85,900 demand level.

‎BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, BTC maintains its bearish direction but shows early signs of a corrective bounce. A gradual increase in RSI strength, combined with a bullish engulfing pattern forming at the $95,200 demand level, further supports the potential for a retracement.
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‎This corrective move is expected to extend toward the daily bearish order block before sellers regain dominance. As long as the $105,900 supply level remains intact, the medium-term market structure stays firmly bearish.

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