Ah, Bitcoin! The darling of the digital age, forever oscillating between hope and despair like a bored aristocrat at a dull soirée. According to the ever-observant trader and on-chain analyst Ali, Bitcoin might grace the $107,500 level with its presence before deciding whether to flirt with $115,000 resistance. The chart, shared on X (formerly Twitter-oh, how the mighty have fallen), paints a picture of price compression, as if Bitcoin were squeezing itself into a corset of volatility.
Bitcoin appears to be forming a triangle. A retest of $107,500 support could come before another push toward $115,000 resistance.
– Ali (@ali_charts)
Consolidation: The Art of Doing Nothing with Style
On the daily chart, Bitcoin has been meandering between $106,000 and $116,000 like a gentleman unsure of which hat to wear. The RSI indicator, ever the diplomat, remains neutral at 46, refusing to commit to any direction. Meanwhile, the MACD histogram lounges flatly, as if mocking traders who await a decisive move-much like a cat lazily watching a mouse it has no intention of catching.
The price, currently lounging at $110,300, has managed a modest daily gain of 0.35%. Analysts describe this setup as “constructive but cautious,” which is a polite way of saying Bitcoin is coiling like a spring, waiting for the market to stop fretting over macro uncertainties.
Institutions Buy While Retail Sits on Its Hands
Despite the muted sentiment among retail traders, institutions are diving in like aristocrats at a champagne fountain. Funds like BitMine are accumulating on dips, offsetting the timid participation of the masses. Macro analyst Jordi Visser describes this phase as Bitcoin’s “IPO moment,” where early holders pass the torch to newer, more patient investors. It’s a slow, frustrating transfer of ownership, much like inheriting a dusty estate filled with questionable antiques.
Visser compares Bitcoin’s current phase to maturing equity-early investors cash out while a broader audience begins accumulating. The result? Sideways price movement that’s as exciting as watching paint dry but sets the stage for future growth.
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Key Levels to Watch (Or Ignore, If You’re Feeling Reckless)
$107,500 is the critical short-term support everyone’s eyeing. A break below could send Bitcoin tumbling toward $105,000, while a move above $115,000 might open the door to the mid-$120,000 range. Without renewed momentum, though, Bitcoin could remain trapped in its triangular structure-a geometric prison of its own making-through November.
The Crypto Fear & Greed Index continues to flash “fear,” reflecting traders’ growing impatience with Bitcoin’s lethargic price action. Yet, metrics like record-high network hashrates and steady ETF inflows suggest that Bitcoin’s fundamentals are as strong as ever-even if its price seems to be taking a long nap.
For now, expect more consolidation, with short-term corrections likely before any major breakout. The next significant move could define Bitcoin’s year-end trajectory-either confirming $110,000 as the new base or exposing vulnerability below $107,000.
Disclaimer: The information provided herein is as useful as a monocle in a hurricane. It’s for educational purposes only and should not be mistaken for financial, investment, or trading advice. Coindoo.com neither endorses nor recommends any specific strategy. Consult a licensed financial advisor before making any decisions-unless, of course, you enjoy living dangerously.
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2025-11-02 09:57