Bitcoin (BTC) Experiences Rejection: Is This the Start of a Further Decline in November?

Updated

October 30, 2025

Gambar Bitcoin (BTC) Experiences Rejection: Is This the Start of a Further Decline in November?

Jakarta, Pintu News – Bitcoin is currently experiencing a correction after reaching a new peak. With the drop below $113,500, many are wondering if this is a sign that it will continue to fall if it stays below the $114,200 resistance zone.

Bitcoin’s (BTC) Rise Stalls

Bitcoin (BTC) recently extended its gains past the $113,500 zone, reaching a pace to break the $115,000 pivot level. In fact, the price briefly surged beyond $116,200 before the bears finally took over. The peak was recorded at $116,309, and the price is currently undergoing a correction. A drop below the $114,200 support zone and the 23.6% Fibonacci retracement level of the last wave from $106,718 to $116,309 indicates further downside potential.

Also Read: Top 3 Crypto’s that are Trending and Stealing Investors’ Attention by the End of 2025!

Technical Analysis Shows Downside Potential

In addition, there was also a breakdown of the bullish trend line that has support at $114,050 on the hourly chart of the Bitcoin (BTC)/USD pair. Currently, Bitcoin (BTC) is trading below $114,000 and the 100-hour simple moving average. Immediate resistance on the upside is near the $113,650 level, with the first key resistance at $114,200. If the price manages to break above $115,000, there could be further upside towards $116,200 and potentially reaching $117,500.

Possible Further Decline if Resistance is Not Broken

If Bitcoin (BTC) fails to break the $114,200 resistance zone, there is a chance that the price will continue to fall. Immediate support is near the $112,000 level, with the first major support near $111,500 or the 50% Fibonacci retracement level of the last wave. The next support is at the $110,500 zone. Further declines will probably take the price towards the $110,000 support in the near term. The key support is at $108,500, below which Bitcoin (BTC) may struggle to recover in the short term.

Technical Indicators Show Bearishness

The hourly MACD indicator is currently showing acceleration within the bearish zone. Meanwhile, the Relative Strength Index (RSI) for the Bitcoin (BTC)/USD pair is now below the 50 level. The next major support level is $112,000, followed by $111,500. Meanwhile, the major resistance levels are $114,200 and $115,000. These indicators suggest that there could be more price drops ahead if Bitcoin (BTC) is unable to maintain its momentum.

Bitcoin’s (BTC) Future Amid Uncertainty

With rejection at key resistance zones and technical indicators suggesting a bearish trend, investors and traders should be wary of the potential for further declines. Monitoring of the mentioned support and resistance levels will be crucial in determining the next direction for Bitcoin (BTC) price.

Also Read: Bitcoin (BTC) Breaks $115,000, Fear & Greed Index is Neutral!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.