Technical analysis by The_Alchemist_Trader_ about Symbol BTC on 10/29/2025

Bitcoin’s intraday price action is showcasing a short-term rally, though a local resistance has recently triggered a pullback back into the current trading range. This corrective phase appears healthy for now, but the coming sessions will determine whether price can sustain its strength or break lower. The critical level to watch is the Value Area Low (VAL) of the intraday range. If Bitcoin manages to hold above this zone, it opens the door for a rotation toward the 0.618 Fibonacci retracement, signaling potential continuation of the current rally. However, a failure to maintain this level could see price taking out the swing low near $100,000, confirming renewed weakness. Key Points: - Local Resistance: Short-term rejection is stalling momentum after the intraday rally. - Support Zone: Holding above the Value Area Low is crucial for maintaining upside potential. - Technical Confluence: A move toward the 0.618 Fibonacci could confirm short-term bullish continuation. From a technical perspective, Bitcoin is now at a pivotal inflection point where market structure will soon dictate direction. What to Expect: A sustained hold above $100K supports a rotation toward the 0.618 Fibonacci, while a breakdown below the swing low could confirm a bearish intraday reversal toward deeper support levels.