Technical analysis by cryptodailyuk about Symbol BTC on 10/11/2025

🧩 1. General Context Bitcoin is currently declining after rebounding from around $124,000. The chart shows a clear descending channel (yellow lines), where the price bounced off the upper and lower boundaries. Currently, the daily candle is testing the lower boundary of the channel and the support zone (red rectangle) between ~$110,000 and $107,000. 📉 2. Key Technical Levels Resistance 1) 115,699 EMA50/SMA200 average zone — possible retest from below Resistance (2) 119,875 resistance with a potential bounce Resistance (3) 124,585 strong resistance with a potential bounce Support (1) 110,000 Daily support currently being tested Support (2) 107,111 200-day SMA — a strong defensive line in the uptrend Support (3) 105,000 Lower boundary of the September demand zone 📊 3. Moving Averages The 50-day EMA (~115,700) recently crossed the 200-day SMA (~115,600) → a possible death cross if it holds below. Price below the EMA50 and SMA100, approaching the SMA200 → momentum is definitely bearish in the short term. ⚙️ 4. MACD The MACD indicator shows a fresh crossover of the downward signal. The histogram deepens into the negative zone → confirmation of downward pressure. Momentum is negative, with no signs of upward divergence. 💪 5. RSI RSI = 37.9, close to the oversold zone, but not yet extreme. A technical rebound could potentially occur when touching 30–35. No divergence is visible yet (RSI confirms price movement). 🕯️ 6. Candlestick Structure The last three daily candles are: Two strong bearish candles with large bodies (without significant shadows). Today's candle with a lower wick is testing the 110,000 zone → a possible defense attempt by buyers. 📈 7. Short-Term Scenarios 🔻 Bearish: A break of 110,000 and a daily close below 107,000 → a possible decline to 105,000 and even 101,000–102,000 USD. The MACD and moving averages confirm this scenario. 🔼 Bullish: A defense of 110,000 and a return above 112,000–113,000 → a possible retest of 115,000–116,000 (EMA50/200) is possible. The RSI indicates that the market has cooled down → a short-term technical rebound is possible.