Buyers Face Last Test As Price Sits Directly Below Trendline

• Bitcoin price today trades near $106,239, attempting to reclaim the 20- and 50-day EMAs after defending the $100,000–$98,500 demand zone.
• Spot flows show $26.42M net inflows, the first positive shift in days, while derivatives open interest rises 4.15% as traders re-enter the market.
• A close above $111,177–$116,289 confirms trend recovery toward $124,000, while failure below $100,000 exposes $92,000.

Bitcoin price today trades near $106,239, recovering from last week’s breakdown below the multi-month ascending trendline that supported the entire 2025 advance. Sellers drove price into the $100,000 to $98,500 demand zone, where buyers defended the level aggressively. Risk sentiment improved following Donald Trump’s latest remarks indicating the U.S. shutdown could end soon. 

Buyers Attempt To Reclaim Lost EMAs

On the daily chart, Bitcoin is attempting to close back above the 20 and 50-day EMAs at $107,180 and $110,262. These moving averages now form an overhead resistance band that has rejected every rally attempt since late October.

The trendline break was the key shift. For nearly seven months, price respected the rising support line. Losing it signaled seller control and forced Bitcoin into its first major structural test since the August rally.

Key daily levels:

• Resistance zone: $107,180 to $111,177
• Breakout trigger: $116,289
• Support range: $100,000 to $98,500

The current bounce is constructive, but price must clear the EMA cluster to shift control back to buyers. Until then, every short term recovery remains reactive rather than trend forming.

Spot Flows Stabilize After Heavy Distribution

Spot flow data from Coinglass shows Bitcoin recorded $26.42 million in net inflows on November 10th, marking the first positive reading in days. A shift from outflows to inflows historically aligns with bottoms forming on higher timeframes.

Until spot flows return consistently positive, the market remains in a defensive posture. Traders are waiting for confirmation that the current bounce is being supported by real demand rather than short covering.

Open Interest Rises As Traders Position Ahead Of Macro Catalyst

Bitcoin derivatives data shows traders moving back into the market. According to Coinglass:

• Volume surge: +77.33 percent
• Open interest up: +4.15 percent to $70.02 billion
• Options volume up: +123.75 percent

The rise in open interest indicates new positions are being opened rather than closed. The long short ratio currently favors bulls, with top traders on Binance holding 2.09 long positions for every short position. This positioning suggests that traders are betting on a sustained recovery instead of anticipating a deeper drawdown.

Trendline Retest In Progress

Price is currently retesting the underside of the broken trendline. If buyers cannot reclaim it, the retest becomes validation of a new downtrend.

Key read on structure:

• Above $111,177: EMAs begin to converge into support
• Above $116,289: Confirms trend resumption toward $124,000
• Below $100,000: Opens room toward $92,000

Supertrend remains red on the daily chart, which signals that the short term structure favors sellers unless price breaks back above $111,000.

Outlook. Will Bitcoin Go Up?

Bitcoin sits at a decisive point. The support zone at $100,000 to $98,500 is still intact, and derivatives traders are positioning for upside. The spot flow reversal adds early confirmation that selling pressure may be slowing.

• Bullish case: A close above $111,177 shifts momentum, and clearing $116,289 confirms the breakout. That would open a path to $124,000, where sellers previously capped the rally.

Bearish case: Failure to reclaim the EMAs keeps Bitcoin below the broken trendline. A daily close below $100,000 exposes $92,000, where the next liquidity block sits.