6 Nov 2025
Bitcoin has perfectly hit its exact bearish price target for this price pattern in the short term and is now bouncing from an important support area, with Bitcoin and crypto funding rates flipping negative. Ethereum is perfectly bouncing from an important Fibonacci level, while XRP is flashing a new signal, aligning with broader short-term relief for altcoins and a potential continuation of a stock market rebound.
A short-term rebound in the S&P 500 index can positively influence Bitcoin and the broader crypto market, as observed after recent dumps, providing good news for now in the short term.
The weekly Bitcoin price chart's Super Trend indicator remains in the green, indicating an ongoing larger bull market and not yet confirming a new bear market, despite widespread speculation.
The traditional four-year Bitcoin halving cycles are predicted to gradually lose relevance over time, potentially leading to mere corrections or short-term bounces instead of full bull or bear market confirmations.
A massive bearish divergence on the weekly Bitcoin price chart remains active, signaling expected weakness, lacking bullish momentum, which means at best choppy sideways price action, but most likely a pullback over weeks or possibly months.
Bitcoin has perfectly bounced from its exact area of major support, sitting roughly at 100,000 and even close to 99,000, preventing a breakdown to lower support levels at 97,000 or 93,000-94,000.
If Bitcoin continues its bounce, expect resistance at roughly 106,000 to 107,000, and significant resistance at around 110,500 to 111,000.
Bitcoin perfectly played out a bearish price pattern on the 6-hour time frame, hitting its exact price target and slightly surpassing it before rebounding from precise support, which offered quick and easy profit opportunities for short positions.
A Bitcoin futures grid bot strategy, designed to profit from volatility and bounces by automatically buying low and selling high, has returned to break-even and is about to flip back into profits again after recent market drops.
The discussed trading strategy is implemented on a Pionex account, offering direct copy functionality, and new users can access bonuses like 50 USDT for KYC completion and deposit bonuses up to 1,000 USD by using specific referral links.
Most short-term liquidity is observed above the current Bitcoin price at around 112,000 and 116,500, but significant resistance points at 106,000-107,000, 111,000, and 115,500-116,000 must be overcome first.
Bitcoin funding rates are slightly below neutral, while many altcoin funding rates are significantly negative, indicating a high demand for short positions and potentially leading to a short squeeze, which could push prices higher in the short term.
A previously opened hedge short position was closed as Bitcoin started to rebound from support, aligning with the overall trading strategy returning to break-even.
Bitcoin dominance is struggling at resistance between 60.5% to 61%, suggesting a potential short-term breather and relief for the altcoin market, allowing altcoins to experience a break from bearish price action.
Ethereum is experiencing short-term relief, bouncing from the 38.2% Fibonacci support level around 3050-3060, which is a crucial level on the logarithmic chart.
Ethereum is bouncing from oversold territories on the daily RSI, a signal that historically precedes decent short-term bounces, making a bullish relief scenario very likely over the next few days.
If Ethereum's bounce continues, resistance is expected at a previous Fibonacci level just above 3.6K, specifically around 3660-3670.
Solana is seeing short-term relief, bouncing from its targeted support level between 143 to 146, confirming this area as a significant level of support.
If Solana continues its bounce, expect resistance at approximately $170 and significant resistance between $190 to $200.
On the weekly time frame, XRP continues to play out a much larger bearish divergence, indicating potential weakness over a period of months despite any short-term bullish reliefs.
XRP is flashing a new bullish divergence on the daily time frame, likely to confirm with the next candle close, which could lead to a short-term bullish relief, similar to a previous divergence that resulted in a 1-2 week bounce.
XRP perfectly bounced from its exact targeted support at around $26; resistance is expected between roughly 230 to 240 and strongly at approximately 265, or between $260 to $270.
Chainlink's larger price structure remains clearly bearish, but in the shorter term, a slight bullish relief or bounce is likely, especially if the rest of the crypto market follows suit.
If Chainlink continues its bounce, resistance is currently encountered between 15.20 to $15.70, with further resistance at around $16.60, $17.50, and strong resistance between $19 to $20.
The four-year Bitcoin halving cycles will likely lose relevance over time, potentially phasing out to manifest as mere corrections or short-term bounces rather than strict bull or bear market beginnings.
| Asset | Observation | Status_Level |
|---|---|---|
| Bitcoin | Hit bearish price target and bounced from major support. | Currently rebounding from ~100K; Super Trend indicator remains bullish. |
| Ethereum | Bounced from 38.2% Fibonacci support and daily RSI oversold levels. | Experiencing short-term bullish relief from 3050-3060. |
| XRP | Flashing a new daily bullish divergence for potential short-term relief. | Bounced from support at approximately $26; resistance levels include 230-240 and 265. |
| Altcoins | Negative funding rates indicate high short demand, potentially leading to a short squeeze. | Likely to see short-term relief if Bitcoin dominance struggles at resistance. |
| Market Influence | US stock market rebound contributes to crypto market bounce. | S&P 500 short-term rebound provides positive sentiment for crypto. |
| Trading Strategy | Bitcoin futures grid bot returned to break-even and is nearing profit. | Actively profits from market volatility by automating buy low/sell high. |
