Bitcoin Price Watch: Traders Eye $106K Ceiling in Volatile Push
On November 12, 2025, Bitcoin traded between $104,779 and $105,153, near the top of its intraday range of $102,461 to $105,257, supported by a $2.09 trillion market cap and $64.6 billion 24-hour trading volume. Short-term charts hint at bullish momentum, with a rebound from $99,192 to $107,465 and robust defense of the $103,000–$104,000 support zone. However, long-term trends remain bearish, as resistance at $110,000 looms and waning trading volume signals fragile bullish conviction. Momentum indicators and moving averages underscore indecision, with potential for a rally contingent upon breaking $105,500 and clearing $110,000 with strong volume. Conversely, failure to hold $103,000 could lead to a retest of $99,000 or lower.
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Overview of Bitcoin's Market Performance
Bitcoin’s market performance on Nov. 12, 2025, reflected a blend of cautious optimism and resistance, characterized by a tug-of-war between momentum and hesitation. It traded between $104,779 to $105,153, nearing the top of its intraday range of $102,461 to $105,257, supported by a market cap of $2.09 trillion and a 24-hour trading volume of $64.60 billion.
Daily Chart Analysis: Downtrend with Potential Rebound
From a daily perspective, bitcoin remains in a broader downtrend, having dropped from its $124,220 high to a trough at $98,898. Recent price action hints at a possible double bottom near the $99,000 support, with faint green candles signaling an attempted rebound.
However, low trading volume suggests waning enthusiasm as prices rise, signaling fragile bullish conviction. The macro resistance at $110,000 remains a key barrier, requiring stronger volume for bulls to break through sustainably.
4-Hour Chart: Constructive Recovery
On the 4-hour chart, bitcoin exhibits constructive price movement, rallying from $99,192 to $107,465, forming higher highs and higher lows. Despite a temporary dip to $103,000, the swift recovery indicates active dip-buyers. The $103,000–$104,000 support zone is holding firm, but a close below this range could jeopardize the short-term uptrend.
Hourly Chart: Enthusiastic Rebound
The hourly chart reflects a sharp rebound, climbing from $102,442 to a local high of $105,500. Green volume spikes highlight bullish momentum, suggesting lower-timeframe traders are leading the charge. However, $105,500 resistance remains firm, acting as a barrier unless accompanied by a volume surge to break through.
Oscillators and Moving Averages: Neutral Outlook
Oscillator indicators reflect a neutral stance:
- The Relative Strength Index (RSI) is at 45,
- Stochastic at 39,
- Commodity Channel Index (CCI) at -56,
- Average Directional Index (ADX) at 26, and
- Awesome Oscillator at -4,800.
Although momentum displays some optimism with a reading of -5,506, the MACD at -2,271 suggests further weakness.
Meanwhile, short-term averages (10-period EMA/SMA near $104,000) indicate support, but longer-term averages (20- to 200-period) are trending downward, reflecting skepticism above $106,000.
Bull and Bear Scenarios
Bull Verdict: If bitcoin defends the $103,000–$104,000 support zone and breaks above $105,500 with conviction, it could rally toward the $110,000 resistance. A confirmation of the double bottom and sustained volume growth could spark a broader recovery attempt.
Bear Verdict: Failure to hold above $103,000, combined with bearish pressure from long-term moving averages, might lead to a retest of $99,000 or lower. Without stronger bullish follow-through, current rebounds risk being dead-cat bounces.
FAQ Summary
- What is bitcoin’s price today? Bitcoin is trading between $104,779 to $105,153 as of Nov. 12, 2025, at 8:50 a.m. EST.
- What is the key resistance level for bitcoin now? The major resistance is near $110,000, a critical level for bulls.
- Where is bitcoin’s strongest support? The short-term support is at $103,000–$104,000.
- Is bitcoin showing bullish or bearish signs? Short-term charts suggest bullish momentum, but long-term trends remain bearish.