Technical analysis by lixing_gan about Symbol BTC: Sell recommendation (11/7/2025)

Bitcoin prices extended their decline after six consecutive days of ETF outflows totaling over 2 bln USD, signaling persistent selling pressure amid mounting liquidity concerns. The broader retreat in global markets has added to the cautious tone, with investors trimming risk exposure. A massive 4.7. bln USD in bitcoin options contract set to expire today suggests heightened volatility ahead. From a technical perspective, BTCUSD broke out of the ascending channel and is testing the 100000 psychological level. A break below this support may prompt a further decline toward the 88000 support zone. Conversely, closing above 105000 may prompt a retest of the resistance at 112000. By Li Xing Gan, Financial Markets Strategist Consultant to Exness