Key Highlights
- Bitcoin started a recovery wave above $103,500 and $105,000.
- BTC/USD cleared a key bearish trend line with resistance at $104,000 on the 4-hour chart.
- Ethereum also started a decent increase above $3,400.
- XRP price climbed above $2.50 to move into a positive zone.
Bitcoin Price Technical Analysis
Bitcoin price found support near $98,500 and started a recovery wave against the US Dollar. BTC climbed above $102,000 and $103,500 to enter a short-term positive zone.
Looking at the 4-hour chart, the price surpassed the 50% Fib retracement level of the downward move from the $126,279 swing high to the $103,447 low. During the increase, the price broke a key contracting triangle with resistance at $112,900.
BTC settled above $113,000, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). If the price extends gains, it could face resistance at $116,500.
The main hurdle is now forming near $117,550 and the 61.8% Fib retracement level of the downward move from the $126,279 swing high to the $103,447 low. A successful close above $117,550 might start another steady increase. In the stated case, the price may perhaps rise toward the $118,800 level. Any more gains might call for a test of $120,000.
Immediate support sits at $112,200. A downside break below $112,200 might start another decline. The next major support is $111,500. Any more losses might call for an extended decline toward the $108,800 support zone.
Looking at Ethereum, the price was able to follow Bitcoin and climbed above the $4,000 resistance region.
Today’s Key Economic Releases
- UK Claimant Count Change for Oct 2025 – Forecast 20.3K, versus 25.8K previous.
- UK ILO Unemployment Rate for Sep 2025 (3M) – Forecast 4.9%, versus 4.8% previous.
- US NFIB Business Optimism Index for Oct 2025 – Forecast 98.3, versus 98.8 previous.
