BTC Holding the Line 💪 — Eyes on $105K and $115K for the Next Bounce
Many were surprised by last month's crypto rejection, but not Alchemy Markets analysts. On October 26, our TradingView innovation was honored.
High volume nodes (support with high volume) are $105,000, matching the trendline.
$105,000–$110,000 is significant options open interest.
These three zones suggest $105,000 might be Bitcoin bulls' bottom and relief is near.
Bitcoin daily technical chart
Bitcoin rejected at the July 2025 POC, the price level with the most concentrated trading since July, as expected, and currently trades in the $107,000s.
Since May 2025, this level has been the range's Value Area Low (VAL). Our chart's purple Anchored volume profile shows the range.
Bitcoin has showed respect at the VAL more than three times, but current slide into the same zone marks the fourth retest, making a successful retest less probable.
In this case, monitor the $104,700–$105,700 high volume node (HVN). This aligns with rising trendline support and a significant put option collection.
Coinglass reports 136.73M in Put Options Open Interest in the $105,000–$110,000 range for Bitcoin. This matches the HVN and trendline. Option sellers want to maintain prices above this zone to avoid profiting on put options.
The $105K–$110K put cluster defines downside risk, while the monthly max-pain zone caps upside. Upside goal is $115,000, the month's biggest options expiration pain point.
Options sellers will earn most if Bitcoin closes around this range by November, making $115,000 the probable expiration objective until volatility surges.
However, unless we see a break over $115,000, it remains a powerful resistance level. The latest drop began on October 28th when Bitcoin was denied from this zone.
