Bitcoin (BTC) โ Short Analysis for $BTC
๐ Current Situation
Bitcoin recently pulled back from its October high of around $126,000, and is now holding in the
~$100,000โ$110,000 zone.
Technical analysis reveals a pattern of lower highs and a retest of key support around $100Kโ$103K.
Macro factors: Leverage has been significantly reduced and according to JPMorgan, Bitcoin now appears undervalued compared to gold on a volatility-adjusted basisโpotential upside remains.
๐ Key Levels & Outlook for 14 November
Support: around $100,000โ$103,000. A breakdown below this zone could lead to deeper downside.
Resistance: near $110,000โ$115,000. A sustainable breakout above this range could re-ignite bullish momentum.
Outlook:
Base case: Holding above support, Bitcoin consolidates and prepares for a move toward $120K+ if resistance breaks.
Risk case: Fails support โ may retest lower zones (~$90K or below) if broader macro risks surface.
๐ Final Thought
Coming into 14 November, the setup is one of consolidation and decision-time. The recent correction appears to have purged excess leverage, which is constructive. If Bitcoin holds support and breaks above key resistance, the stage is set for a bullish move. However, the path isnโt guaranteedโvigilance on support break risks is required.