bitcoin price analysis today 17/11/2025
š Chart Analysis (BTC/USDT ā 1H Timeframe)
1. Trend Direction
The overall trend shown is bearish (downtrend).
You can see:
- Lower highs and lower lows forming.
- Several downward-sloping trendlines reinforcing bearish structure.
2. Key Zones
šµ Resistance Zones
- A major resistance area is marked around 96,500 ā 97,000 (blue zone).
- Price is currently approaching this zone from below.
- There is also a diagonal resistance (descending trendline) aligning with this zone.
These overlapping resistances increase the probability of a rejection.
š£ Support Zones
- Important support sits around 94,500 ā 95,000 (purple zone).
- Price recently bounced from this level.
3. Current Price Reaction
- Price is retesting a bearish trendline and a horizontal resistance at the same time.
- Candles show slowing bullish momentum as it approaches resistance.
- EMAs (short-term moving averages) are still pointing downward.
This suggests a potential sell setup.
4. Trade Idea Shown in the Chart
The chart illustrates a short (sell) position, likely based on:
- Retest of resistance.
- Trend continuation expectation.
The projected move (blue arrow) suggests:
- A drop back down toward 93,000 ā 92,000.
Stop-loss is set above the resistance zone.
5. Conclusion
Bias: Bearish
As long as price stays below the resistance and trendline, downside continuation is likely.
Confirmation for sell:
- Bearish candle rejection at the resistance zone.
- Breakdown below local support inside the trendline area.
Invalidation:
- Strong breakout above 97,000 zone.
JOIN EXNESS BROKER 3/7 MINUTES VERIFY ACCOUNT
WITHDRAWAL IN FEW MINUTES
Exness:
https://one.exnessonelink.com/a/j295642k3f
XM :
https://www.xm.com/referral?token=VMcR3Zp27768XbCPjr9nGA