Bitcoin Shows Strong Signs of Recovery Despite Recent Price Weakness – Market Analysis – 2025-11-08

Market Analysis

Bitcoin’s price has shown clear signs of weakness after recently reaching a peak near 124,000. Despite the Federal Reserve’s rate cut, the market has not exhibited the anticipated bullish momentum. Given this landscape, a cautious and vigilant approach is essential, as the price could reverse downward at any moment.

Over the past five days, Bitcoin has experienced significant volatility, which has heightened market uncertainty. On November 3rd, the price opened at 110,540 and closed lower at 106,583. On the same day, key indicators such as the RSI stood at 32.63 and the MFI at 56.33, both suggesting moderate weakness. The following day, November 4th, saw a sharp decline with the closing price dropping to 101,497. The RSI fell further to 21.9, nearing oversold territory, while the MFI also declined to 41.19. The Fear and Greed Index plummeted to 21, signaling extreme fear, which was clearly reflected in the price movement. Additionally, trading volume and activity increased, indicating strong selling pressure. On November 5th, there was a slight recovery attempt, with the price closing at 103,885, but RSI and MFI levels remained subdued. The volatility continued through November 6th and 7th, reflecting an absence of a defined market direction.

From a technical perspective, Bollinger Bands over a 21-day period reveal a middle band around 108,655, with lower and upper bands at approximately 101,423 and 115,887 respectively. The current closing price at 103,339 is near the lower band, indicating downward pressure but not yet a significant breakthrough. Examining moving averages, the 7-day and 14-day Hull Moving Averages (HMA) sit near 101,076 and 101,959, close to the current price, while the 21-day and 30-day HMAs, at 103,733 and 106,469 respectively, suggest resistance levels ahead. This implies that the short-term trend remains weak, and the medium-term momentum is also under pressure.

Regarding support and resistance, the nearest support zone (S1) lies between 101,508 and 99,950. Should this zone break, the next support level (S2) ranges from 96,945 to 90,056, which would be critical if the price moves lower. On the resistance side, the first significant barrier (R1) is between 104,103 and 105,500, presenting the initial challenge for any price recovery. Additional resistance zones include R2, spanning 108,816 to 109,450, and R3, from 111,696 to 112,371, both representing key longer-term hurdles. Psychological levels at 100,000 (support) and 110,000 (resistance) also play important roles in market dynamics.

Market sentiment currently reflects mild fear, with the Fear and Greed Index at 24. Financing rates are positive but minimal, while open interest has declined by 1.9%, indicating a possible drop in market participation. News over the last five days has focused largely on the Fed’s interest rate reduction and ongoing global economic uncertainties, contributing to investor caution. In this environment, short-term weakness appears more likely; however, positive medium- and long-term factors, including support levels, suggest potential for recovery.

In summary, Bitcoin’s present condition is fragile, with short-term technical indicators pointing toward weakness amid prevailing market fear. Nevertheless, the proximity of prices to key support and moving averages offers room for a medium-term rebound. Investors are advised to avoid hasty decisions and to wait for clearer market signals before committing to new positions.

Data Summary

• 1. Time:
  2025-11-08 – 00:00 UTC
• 2. Prices:
  Open: 101346.04000000
  High: 104096.36000000
  Low: 99260.86000000
  Close: 103339.08000000
• 8. Supports:
  S1: 101508.68000000 – 99950.77000000
  S2: 96945.63000000 – 90056.17000000
  S3: 89855.99000000 – 87325.59000000
  S4: 84474.7 – 83949.5
• 9. Resistances:
  R1: 104103.72000000 – 105500.00000000
  R2: 108816.33000000 – 109450.07000000
  R3: 111696.21000000 – 112371.00000000
  R4: 119178 – 121022
• 10. Psychological Support:
  100000.00000000
• 11. Psychological Resistance:
  110000.00000000
• 3. Last 5 days’ closing prices:
  2025-11-03: 106583.04000000
  2025-11-04: 101497.22000000
  2025-11-05: 103885.16000000
  2025-11-06: 101346.04000000
  2025-11-07: 103339.08000000
• 4. Volume:
  BTC: 32059.5094
  USD: $3251112979.3059
• 5. Number of trades:
  6335759
• 6. Indicators:
  RSI: 37.5500
  MFI: 36.9800
  BB Upper: 115887.14000000
  BB Lower: 101423.47000000
• 7. Moving Averages:
  SMA:
  7=105327.05000000
  14=108460.95000000
  21=108655.30000000
  30=109846.16000000
  50=112564.85000000
  100=113424.01000000
  200=109190.49000000

  EMA:

  7=104792.38000000
  14=106922.16000000
  21=108277.32000000
  30=109475.70000000
  50=110947.82000000
  100=111372.80000000
  200=107663.71000000

  HMA:

  7=101076.02000000
  14=101959.15000000
  21=103733.61000000
  30=106469.37000000
  50=106433.85000000
  100=110745.28000000
  200=113991.59000000
• 12. Funding Rate:
  0.0086%
• 13. Open Interest:
  82292.5110
• 14. Fear & Greed Index:
  24 (Extreme Fear)

Disclaimer: This market analysis is generated by AI based on historical BTC data and sentiment indicators. Use it as a reference, not financial advice.