$BTC /USD Technical Analysis — 31 October 2026
Market outlook • Short-term and intraday trading
Current bias: Bearish (selling pressure)
Bitcoin is facing strong downside pressure after falling to six-week lows. The latest market analysis points to a weakening short-term trend, with price approaching an important support zone. A temporary bounce is possible, but a confirmed reversal has not yet been established. Forex.com +1
### 1\. Current market levels
Reference price: approximately $77,180, latest available market snapshot. Prices can change quickly. Borearis +1
| Level | Price (USD) |
| ----------------- | ----------- |
| Resistance 2 | $78,418 |
| Resistance 1 | $78,019 |
| Intraday pivot | $77,349 |
| Current reference | $77,180 |
| Support 1 | $75,353 |
| Support 2 | $74,958 |
| Support 3 | $74,562 |
Source: Borearis +1
### 2\. Trading scenarios
Bearish scenario — Sell setup
If BTC remains below $77,349 and confirms rejection on a retest, downside levels to watch are:
* Target 1: $75,353
* Target 2: $74,958
* Target 3: $74,562
Bullish scenario — Recovery setup
If BTC breaks above $77,349 and holds that level, watch for a recovery toward:
* Target 1: $78,019
* Target 2: $78,418
A stronger recovery would require sustained buying pressure above these levels.
These are conditional scenarios based on the current technical levels, not guaranteed price targets. Borearis +1
### 3\. Indicator analysis
* RSI: Around 33–35 on the daily chart, indicating weak momentum. The market may rebound, but low RSI alone is not a buy signal.
* MACD: Below its signal line, supporting the bearish short-term outlook.
* Moving averages: BTC is below its 20-day and 50-day averages, indicating continued selling pressure.
* News risk: Recent reports of a major Binance security breach may contribute to volatility and negative sentiment. Borearis +1
### 4\. My trading outlook
Short-term trend
Bearish
Key decision level
### $77,349
Main downside level
### $75,353
Recovery confirmation
### $78,019+
My preference: Avoid chasing a sell after a sharp drop. Wait for a confirmed breakdown and retest before considering a short, or wait for a clear reclaim of resistance before considering a long. Use a stop-loss and keep leverage low.
This is technical analysis, not a guarantee or personalized financial advice.
Which timeframe do you trade?
5-minute scalping
15-minute trading
1-hour trading
4-hour swing trading
Daily analysis
Preferred setup
Buy / Long
Sell / Short
Both
Analyze my timeframe.