Technical analysis by ByteSignals about Symbol BTC: Buy recommendation (11/4/2025)

Bitcoin is currently testing a critical confluence zone — the lower boundary of the parallel channel and the 50-week SMA. ✅ The trend structure remains intact as long as BTC holds above this channel support. ⚠️ A weekly close below could invite deeper correction toward the $90K zone. 📊 RSI is cooling down but still above the midline, suggesting potential for a rebound if buyers defend this area. Reasons a Bounce Is Likely 1. Channel Support BTC is exactly at the lower boundary of a long-term ascending channel — historically, these levels have acted as strong dynamic support zones, where previous pullbacks found footing. 2. 50-Week SMA Confluence The 50-week Simple Moving Average (SMA) aligns closely with the current price zone. → Historically, Bitcoin often respects the 50 SMA as a mid-cycle support, especially during healthy bull markets. 3. RSI Reset RSI on the weekly chart has cooled off near mid-level (around 45–50), which is often a “reloading” zone before another leg up. It shows there’s room for momentum to rebuild upward. 4. Volume Decline on Pullback The declining sell volume hints at seller exhaustion. A spike in buy volume could easily trigger a reversal from here. Conclusion: BTC must hold this level to maintain the long-term bullish structure. A strong bounce here could mark the next leg higher within the channel.