Aayush Jindal
Key Highlights
- Bitcoin retested the key support at $76,350 and remained in a range.
- BTC/USD could face hurdles near $78,400 and $79,145 on the 4-hour chart.
- Ethereum is still struggling to settle with a daily close above $2,550.
- Gold price saw a pullback and declined below $4,320.
Bitcoin Price Technical Analysis
Bitcoin price failed to start a fresh wave above $80,000 against the US Dollar. BTC dipped once again and revisit the key support at $76,350.
Looking at the 4-hour chart, the price formed a base and remained in a range above the $76,000 pivot level but there was a close below the 100 simple moving average (red, 4-hour). On the upside, an immediate resistance could be $78,400.
The first major resistance might be near the 50% Fib retracement level of the downward move from the $82,266 swing high to the $76,024 low at $79,145. A close above the 100 simple moving average (red, 4-hour) and then $79,145 could start another steady increase.
In the stated case, the bulls could aim for a move to $80,800. Any further gain might call for a test of $82,000. If there is a fresh decline, the price could revisit $76,400. The first major support might be $76,000.
A downside break and close below $76,000 could trigger a sharp decline. In the stated scenario, the price could test $74,500 and the 200 simple moving average (green, 4-hour).
Looking at Ethereum, the price is still struggling to settle above $2,550 and remains at a risk of a bearish reaction.
Today’s Key Economic Releases
- NY Empire State Manufacturing Index for Sep 2026 – Forecast 14.75, versus 20.6 previous.
