BTC remains under pressure inside the descending channel, with each recovery failing to establish a meaningful change in market structure.
On the 2H chart, price has broken below the 76K–77.7K support zone, turning it into a key resistance area. Both EMAs continue to slope downward, suggesting that any short-term rebound could attract sellers rather than signal a genuine reversal.
The macro backdrop reinforces this bearish outlook. Regulatory uncertainty following the US midterm elections continues to weigh on crypto sentiment, while markets are pricing an approximately 85% chance of another Fed rate hike in December.
If BTC fails to reclaim 76K–77.7K, I expect another decline toward 74K, followed by the lower-channel target around 72K–73K.
Preferred scenario: rebound toward 76K–77.7K → rejection → 74K → 72K–73K.
On the 2H chart, price has broken below the 76K–77.7K support zone, turning it into a key resistance area. Both EMAs continue to slope downward, suggesting that any short-term rebound could attract sellers rather than signal a genuine reversal.
The macro backdrop reinforces this bearish outlook. Regulatory uncertainty following the US midterm elections continues to weigh on crypto sentiment, while markets are pricing an approximately 85% chance of another Fed rate hike in December.
If BTC fails to reclaim 76K–77.7K, I expect another decline toward 74K, followed by the lower-channel target around 72K–73K.
Preferred scenario: rebound toward 76K–77.7K → rejection → 74K → 72K–73K.
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Publications connexes
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