Bitcoin Faces Downward Pressure as Support Zones Gain Critical Importance – Market Analysis – 2025-11-17

Market Analysis

Bitcoin recently surged past the significant level of 124,000, but has since experienced a steady decline in price. Despite the Federal Reserve’s interest rate cuts, investor confidence remains fragile, and technical indicators currently point toward a bearish trend.

Over the past five days, Bitcoin has faced clear downward pressure, largely driven by growing market anxiety and fluctuating trading volumes. On November 12th, the price reached a high of 105,333, but then entered a consistent downtrend, falling to 94,261 by November 16th. Both the RSI (7) and MFI (14) have dropped below the 50 mark and continue to decline, signaling underlying weakness. Notably, on November 14th, the RSI fell to 22.13 and the MFI to 28.42—levels close to oversold territory—yet no clear price reversal followed. This suggests sustained bearish pressure, with buyers remaining cautious.

Looking at the Bollinger Bands, the price remains below the 21-day midline of 104,483 and has recently approached the lower band near 93,360. This proximity to the lower boundary indicates a potential for a short-term rebound, though positive confirmation signals will be necessary for such a recovery. Moving averages further reinforce this bearish outlook: the Hull Moving Averages (7, 14, and 21-day) have all turned downward, and the price is no longer trading above these averages. On November 16th, the 7-day HMA stood at 92,547, while the closing price was 94,261; however, the downward trajectory of these averages points to medium-term weakness.

In terms of support and resistance levels, the zone between 94,172 and 92,500 (S1) has become critical following the recent price drop. A breakdown below this range could activate the next support zone (S2) between 89,855 and 87,325. Further downside support exists at S3, ranging from 84,474 to 83,949. On the resistance side, the range of 94,270 to 95,461 (R1) is currently capping upward momentum, with a secondary resistance band (R2) between 97,569 and 98,345 lying well above current prices. Psychological levels of 90,000 (support) and 100,000 (resistance) also play significant roles in market dynamics.

The Fear and Greed Index has reflected persistent fear over the last five days, dropping from 24 down to 10, indicating extreme caution among investors. Open interest has risen by 3.7%, suggesting some market engagement, but the funding rate remains near neutral. News flow largely supports the bearish sentiment, as investors maintain prudent positioning amid global economic uncertainties, despite the Fed’s recent rate cuts.

MACD indicators also confirm bearish momentum, with both the signal and MACD lines trending downward, highlighting short-term selling pressure. Despite fluctuations in volume, the number of trades is declining, pointing to weakening buying interest. At this juncture, it is crucial for Bitcoin to hold support near 94,000 to avoid further losses. Conversely, stabilization above 95,000 accompanied by increased volume could trigger a temporary rebound.

Overall, Bitcoin’s current technical and fundamental picture leans toward a medium-term bearish bias, although some short-term price reactions at key support levels remain possible. Investors are advised to closely monitor market fluctuations and avoid hasty decisions, as uncertainty continues to dominate. While the Fed’s rate cuts have offered some relief, their impact has yet to manifest fully in price action, and market sentiment remains subdued. Careful attention to support and resistance levels is essential during this volatile period.

Data Summary

• 1. Time:
  2025-11-17 – 00:00 UTC
• 2. Prices:
  Open: 95596.23000000
  High: 96635.11000000
  Low: 93005.55000000
  Close: 94261.44000000
• 8. Supports:
  S1: 94172.00000000 – 92500.90000000
  S2: 89855.99000000 – 87325.59000000
  S3: 84474.69000000 – 83949.52000000
  S4: 78595.9 – 76322.4
• 9. Resistances:
  R1: 94270.00000000 – 95461.53000000
  R2: 97569.66000000 – 98345.00000000
  R3: 103261.60000000 – 104550.33000000
  R4: 108816 – 109450
• 10. Psychological Support:
  90000.00000000
• 11. Psychological Resistance:
  100000.00000000
• 3. Last 5 days’ closing prices:
  2025-11-12: 101654.37000000
  2025-11-13: 99692.02000000
  2025-11-14: 94594.00000000
  2025-11-15: 95596.24000000
  2025-11-16: 94261.44000000
• 4. Volume:
  BTC: 23889.4051
  USD: $2261295524.8173
• 5. Number of trades:
  5141394
• 6. Indicators:
  RSI: 24.6500
  MFI: 21.8600
  BB Upper: 115606.32000000
  BB Lower: 93360.51000000
• 7. Moving Averages:
  SMA:
  7=99266.88000000
  14=101325.33000000
  21=104483.41000000
  30=106122.18000000
  50=110198.56000000
  100=111938.94000000
  200=109738.31000000

  EMA:

  7=98102.09000000
  14=101060.23000000
  21=103099.84000000
  30=105003.34000000
  50=107585.05000000
  100=109502.55000000
  200=107014.08000000

  HMA:

  7=92547.82000000
  14=96079.50000000
  21=97230.20000000
  30=98254.18000000
  50=100987.26000000
  100=105702.21000000
  200=110906.16000000
• 12. Funding Rate:
  0.0071%
• 13. Open Interest:
  96867.4820
• 14. Fear & Greed Index:
  10 (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.