Technical analysis by FOREXcom about Symbol BTC: Buy recommendation (10/27/2025)

It is all about risk appetite right now driving Bitcoin prices. The rally in BTCUSD in the last few days has has coincided with renewed optimism surrounding trade negotiations between the United States and China. This is also why gold has fallen below $4K today and the S&P 500 has reached fresh record highs. Trump struck an optimistic tone, telling reporters he “really feels good” about a deal, with reports suggesting that China could resume soybean purchases and ease restrictions on rare-earth exports. In return, Washington may scale back its recent tariff threats. Anyway, it is risk on and BTC is holding firm right now, with the crypto also creating a bullish reversal after it refused to hold below prior low at 107250 and the 200-day average a couple of weeks ago (see circled). That fake out has subsequently pushed BTCUSD back above 110K, 112K and now 115K. Key support is now 112K where the breakout from yesterday commenced and where the 21-day exponential converges. Next upside resistance levels to watch include 116K, which was being tested at the time of writing, followed by 120K, which is a more significant level to watch. For now, the path of least resistance is to the upside, even if we see a return to 112K support. By Fawad Razaqzada, market analyst with FOREX.com