Bitcoin (BTC/USD) Technical Analysis Stays Neutral

Daily outlook Neutral bias Oct 26, 2026, 08:02 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Bitcoin (BTC/USD) is neutral in London at 79904.33, down 0.55% from the previous close and between S1 at 79897 and the daily pivot at 80411.61.

Where Bitcoin stands in the London session

Bitcoin (BTC/USD) last traded at 79904.33 in the London session, down 444.26 dollars, or 0.55%, from the previous close at 80348.59. The day open is 80378.3, and the range printed so far runs from a day low at 79241.19 to a day high at 80624.04. The last price is under the round level at 80000 and sits between S1 and the daily pivot on the live Bitcoin (BTC/USD) rate.

The day range is 1382.85 dollars, 66% of the 14-day ATR at 2093.45 dollars, so the London range is still short of that ATR reading. The spread is 15 dollars, with the ask at 79919.33.

Trend and momentum do not agree

The daily trend state is mixed. Price is above the 200-day EMA at 76072.69, while the 20-day EMA at 82058.02 and the 50-day EMA at 80774.21 are both above the last print. Daily RSI is 42.8.

The four-hour trend is down, with its 20-period EMA at 80668.27 and its 50-period EMA at 81367.02. The one-hour trend is down too, with its 20-period EMA at 80107 and its 50-period EMA at 80425.5. Because the daily state is mixed and the four-hour and one-hour states are down, the timeframes do not agree and the bias is neutral.

Price is down 3.41% across five days and down 6.85% across twenty days.

Levels around the last price

Nearest support is S1 at 79897, 7.33 dollars under the last price. Nearest resistance is the previous day low at 79960.02, 55.69 dollars above it. The round level at 80000 lies above that previous day low, and the last print remains under both.

The daily pivot is at 80411.61. R1 is at 80863.2, R2 is at 81377.81 and R3 is at 81829.4. Below S1, S2 is at 79445.41 and S3 is at 78930.8. Those levels sit in the daily pivot set covered in how pivot points work.

Yesterday's high was 80926.22 and yesterday's low was 79960.02. Yesterday's bar covered 966.2 dollars, and yesterday's close was 80348.59. The five-day high is 84844.39 and the five-day low is 79104.73. The twenty-day high is 86683.68 and the twenty-day low is 79104.73. The round level below price is 79000.

Bullish path and bearish path

A break above R1 at 80863.2 would open the way to R2 at 81377.81, with 514.61 dollars between that trigger and that target. Invalidation on this path is a move back below the daily pivot at 80411.61. The last price is already under that pivot and still under R1, so the bullish trigger is not in place.

Separately, a break below S1 at 79897 would open the way to S2 at 79445.41. The span from that trigger to that target is 451.59 dollars, and a move back above the daily pivot at 80411.61 would invalidate the path. S1 has not broken and remains the nearest support.

Tomorrow's US data and the newsflow

No item on the US list is scheduled for this London session, and none lines up with New York joining at 12:00 UTC. Every release below is tomorrow. At 12:15 UTC tomorrow the ADP Employment Change 4-week average is due, with a previous reading of 18.5 and no estimate shown. At 12:30 UTC tomorrow Durable Goods Orders is due, previous 0 and estimate 0.6, alongside Durable Goods Orders ex Transportation, previous 0.3 and estimate 0.6, Nondefense Capital Goods Orders ex Aircraft, previous 1.6, and Durable Goods Orders ex Defense, previous 0.1. At 13:00 UTC tomorrow the Housing Price Index is due, previous 0.3 and estimate 0.1. All six releases are medium impact. Times and prior readings are there for using an economic calendar, not as a forecast or a ranking of catalysts.

Tokenpost and CryptoPotato are running Federal Reserve coverage, while Tokenpost and Crypto news are also publishing pieces on bitcoin yield. That newsflow says what is being discussed, and it does not prove why price is down 0.55% from the previous close.

News volume is 52% of its 90-day average, and the opportunity read is bearish at -48. Those two readings describe coverage tone only, not positioning and not a reason for the next move.

As of the week to October 20, the CFTC report showed large speculators net long Bitcoin (BTC/USD), 53.8% long and 46.2% short, a net 2418 contracts. Speculators reduced that net long from 2534 contracts the previous week, a net change of -116 contracts, and the figure is positioning rather than a forecast.

Bottom line

Bitcoin (BTC/USD) is neutral in the London session. The last price at 79904.33 is down 0.55% from the previous close, between S1 at 79897 and the daily pivot at 80411.61, with the previous day low at 79960.02 as the nearest resistance. The daily trend is mixed while the four-hour and one-hour trends are down, New York joins at 12:00 UTC, and the listed US releases arrive tomorrow.