Bitcoin’s Current Market Position
Bitcoin is trading in a fairly tight range between $104,779 and $105,153 as of November 12, 2025. The cryptocurrency has been hovering near the upper end of its daily range, which spans from $102,461 to $105,257. With a market capitalization of $2.09 trillion and daily trading volume around $64.60 billion, there’s definitely some activity happening, though perhaps not as explosive as some traders might hope for.
Looking at the broader picture, Bitcoin is still in what appears to be a downtrend after falling from its recent high of $124,220 down to around $98,898. There’s some evidence of what might be a double bottom forming near the $99,000 level, with a few green candles suggesting at least an attempt at recovery. But honestly, the volume tells a different story – it’s been fading as prices rise, which makes me wonder if this bullish sentiment is actually as strong as it appears.
Technical Indicators and Resistance Levels
The $110,000 level stands out as a major resistance point that bulls need to overcome. Until there’s enough buying pressure and volume to push through that barrier, I think the ceiling will remain pretty solid. On the 4-hour chart, things look a bit more encouraging – Bitcoin has climbed from around $99,192 to $107,465, forming what seems to be a pattern of higher highs and higher lows.
Even with a temporary dip to $103,000, the quick recovery suggests there are still traders ready to buy on pullbacks. The $103,000-$104,000 support zone is holding up reasonably well for now, but if Bitcoin closes below that range, the short-term uptrend could be in trouble.
On the hourly timeframe, there’s more enthusiasm with a sharp rebound from $102,442 to a local high of $105,500. Green volume spikes support this bullish tone, indicating that shorter-term traders are trying to push prices higher. However, the $105,500 resistance level is proving difficult to break through without stronger volume.
Mixed Signals from Indicators
Most oscillator indicators are sitting in neutral territory. The RSI at 45, stochastic at 39, CCI at -56, ADX at 26, and awesome oscillator at -4,800 all suggest indecision in the market. Momentum readings show some directional bias at -5,506, but the MACD at -2,271 leans toward continued weakness.
Moving averages tell a familiar story – short-term strength but longer-term skepticism. The 10-period EMA and SMA around $104,000 provide some support, but moving averages from the 20-period through 200-period are all trending downward above $106,000. Without a confident close above $110,000 supported by strong volume, the current trend remains vulnerable to volatility.
Potential Scenarios Ahead
If Bitcoin can maintain support above $103,000-$104,000 and break through $105,500 with conviction, there’s potential for a move toward the $110,000 resistance level. Sustained volume on upward moves and confirmation of the double bottom pattern would help shift momentum toward a broader recovery.
On the other hand, failure to hold above $103,000 could lead to a retest of the $99,000 level or even lower. With momentum indicators showing conflicting signals and volume fading on rebounds, this current bounce might just be temporary unless bulls demonstrate stronger follow-through in their buying activity.
I think what we’re seeing is typical market behavior after a significant decline – some traders are trying to catch the bottom, while others remain cautious until clearer signals emerge. The next few days should provide more clarity about whether this is just a temporary bounce or the beginning of a more sustained recovery.
