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- ⚖️ Bitcoin in November: Bullish or Bearish? |Released 1 Nov 25|
⚖️ Bitcoin in November: Bullish or Bearish? |Released 1 Nov 25|
😤 Bears Argue 3 Reasons the Bull Run is Over!
Jonathan Hamblin
November 01, 2025
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Welcome back to
BULL MARKET BYTES
Your byte of cryptocurrency insight where we enter the month of November and give this “4th quarter rocket” a second try . . .
It can’t be worse than October, can it? 😅
Here is what we have for you today!
📊 BLOCKCHAIN BREAKDOWN
The bearish inverse cup and handle formation has made another appearance, but will it drive Bitcoin’s price further down?
If key support at $108,765.53 does not hold, there are only 2 levels remaining to keep the bull market alive!
📌 BULL MARKET BULLETIN
Bears argue that the bull market is over!
Bitcoin’s first red October in 7 years!
BITCOIN TECHNICAL ANALYSIS
Well, October was not the “Uptober” that we were promised . . . or wanted to be promised.
Bitcoin closed out October at -3.69%, the first red October for the past 7 years. However, there is some good news!
November currently sits at +0.37%. We aren’t buying Lamborghinis with this percentage, but at least it is in the green.
Last year for November, Bitcoin achieved +37.29%!
Let’s dive into today’s newsletter to see if history can repeat itself, but before we do, a word from today’s sponsor!
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In Wednesday’s newsletter, we spoke over the bullish ascending wedge and how Bitcoin needed to hold support at $111,871.67.
Since then, Bitcoin did 3 key things that doesn’t give anyone the “warm and fuzzy” feeling.
Broke the bullish ascending wedge formation
Broke below key support at $110,609.41 and $111,871.67
Initiated a bearish inverse cup and handle formation
The image above shows us 1 daunting thing . . .
Bitcoin completed a bearish inverse cup and handle formation and is on track to complete another!
Below, we have a more “zoomed in” view of Bitcoin and how major support could be broken at $107,493.48 if the bearish formation is successful.
At the same time, if Bitcoin continues to drop in price, the key areas below could turn from support into resistance.
$111,871.67
$110,609.41
$109,924.27
The psychology behind the market
There is a gleam of hope as in the past hour, there is a majority of bullish traders compared to bearish traders!
Long (bullish) traders = 52.01%
Short (bearish) traders = 47.91%
With this, should we brace for impact as Bitcoin approaches $100,000 or is there still a possibility of Bitcoin recovering?
Let’s grab our crystal ball, look deeply, and take a look!
WHAT TO ANTICIPATE
As stated in Wednesday’s newsletter . . .
“In the meantime, Bitcoin must hold $111,871.67 to continue its upward trend. If held, $115,620.04 is the next resistance level that must be converted to support!
If $111,871.67 is broken, it must be reclaimed before the beginning of November to hold the bullish ascending wedge formation.”
Unfortunately, Bitcoin did not hold $111,871.67 which resulted in the bullish ascending wedge pattern breaking.
The chance Bitcoin had to reclaim this area was met with bearish pressure as Bitcoin dropped to ~$106,200.
So, what does that mean for the lonely Bitcoin investor?
🌍 In a perfect world, what do we see? There is still hope for Bitcoin to “turn around the ship” and sail in the right direction . . . to the moon!
Even though Bitcoin has formed a bearish formation, if $108,765.53 can be held than there is a chance for the ascending wedge to recover.
We would anticipate a delayed new all-time high, but it would ensure that the bull market run does not cease!
⚠️ Caution along the way! Bitcoin is repeating history as the current bearish formation is the same that dropped it from its all-time high price!
If the bearish inverse cup and handle formation is successful, there is only 1 major support level remaining before Bitcoin breaks below $100,000!
That level is $104,442.54!
🧠 Our overall thoughts? This is an imperative time for Bitcoin. One more major drop in price could end the bull market run.
If the run ends, then we are projecting 2028-2029 for the next major push . . . but let’s not get ahead of ourselves.
We do believe that Bitcoin has more fuel in the tank, but the further Bitcoin dives in price the further we sink in our chair while looking at the chart.
⏳ In the meantime! Watch to see if Bitcoin holds above $108,765.53 for the next 72 hours.
If it does, this is a strong indicator that the bearish inverse cup and handle formation has failed.
Don’t worry, we will see everyone in Wednesday’s newsletter for if Bitcoin can hold on for dear life in the meantime!
Be safe out there and may the bull be with you!
BULL MARKET BULLETIN 📌
Bitcoin breaks the streak of green for October as the month ends below -3% as last year October warranted above +10%.
Analysts suggest that Bitcoin’s 558 days post the 2024 halving should mark the top of the bull cycle, but have things changed?
DID WE HIT THE BULLSEYE? |