Bitcoin Technical Analysis Today: Neutral Below 80000

Daily outlook Neutral bias Oct 29, 2026, 07:24 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

BTC/USD is at 79815.14 in London, down 1.75% on the day and between S2 at 79589.21 and S1 at 80414.97. The daily trend is mixed while H4 and H1 are down, so the read stays neutral ahead of today's 12:30 UTC US releases.

London Print Puts Bitcoin Between S2 and S1

Bitcoin (BTC/USD) holds a neutral read in the London session. The last price at 79815.14 sits between S2 at 79589.21 and S1 at 80414.97. Nearest support is S2, 225.93 dollars under that print, and nearest resistance is the previous day low at 80252.3, 437.16 dollars above it. Four-hour and one-hour trends point down, but the daily trend is mixed, so the timeframes do not agree.

On the day, Bitcoin is down 1425.6 dollars, or 1.75%, from the previous close at 81240.74. The day open is 81254.42, the day high is 81370.21 and the day low is 79586.79. The last print is above S2, while the day low is below S2. The bid is 79815.14 and the ask is 79830.15, a spread of 15.01 dollars.

The day range of 1783.42 dollars is 91 percent of the 14-period ATR at 1963.03. Performance is down 1.91% over five days and down 2.36% over 20 days. Yesterday's bar shows an open at 80680.54, a high at 81741.16, a low at 80252.3, yesterday's close at 81240.74 and a range of 1488.86 dollars.

Daily Trend Is Mixed While H4 and H1 Point Down

The daily state is mixed. Last price is under the daily 20-period EMA at 81678.61 and under the daily 50-period EMA at 80750.58, and it remains above the daily 200-period EMA at 76223.86. Daily RSI stands at 47.8.

The four-hour state is down. Price is under the four-hour 20-period EMA at 80529.51 and under the four-hour 50-period EMA at 80899.51. The one-hour state is down as well, with price under the one-hour 20-period EMA at 80436.86 and under the one-hour 50-period EMA at 80513.6.

H4 and H1 agree with each other. The daily chart does not share that down state, because price is still above the 200-period EMA and the daily label is mixed. That split keeps the bias neutral.

Nearby Levels, Pivots and the Multi-Day Ranges

On the prior-day and pivot map, nearest resistance stays the previous day low at 80252.3 and nearest support stays S2 at 79589.21. The round level above price is 80000, which sits between the last print and that previous day low. The round level below price is 79000.

S1 at 80414.97 is above the last print, so it is resistance here, as is the daily pivot at 81078.07. Further up, R1 is 81903.83, R2 is 82566.93 and R3 is 83392.69. Under price, S2 at 79589.21 is the first pivot support and S3 is 78926.11. Those are the daily pivot levels in force for this session.

The five-day high is 81741.16 and the five-day low is 79104.73. The 20-day high is 84844.39 and the 20-day low is 79104.73.

Bullish Path Through R1, Bearish Path Through S2

A break above R1 at 81903.83 would open the way to R2 at 82566.93, a span of 663.1 dollars from that trigger to that target. A move back below the daily pivot at 81078.07 would invalidate it. The London print is still under the daily pivot, under S1 and under 80000, so that bullish path is not in force at 79815.14.

The downside path is closer on the chart and uses a different invalidation test. A break below S2 at 79589.21 would open the way to S3 at 78926.11, also 663.1 dollars from trigger to target. A move back above the daily pivot at 81078.07 would invalidate that view. The day low at 79586.79 is below S2, while the round level at 79000 and the five-day low at 79104.73 both sit under S2 and above S3.

The 12:30 UTC US Calendar and Other Context

London is the session underway, and New York joins at 12:00 UTC. Today's US releases are set for 12:30 UTC, after that join. Distance to the nearest levels is 225.93 dollars down to S2 and 437.16 dollars up to the previous day low. The schedule does not rank one release over another.

High-impact items today at 12:30 UTC are Core Personal Consumption Expenditures price index month-on-month, previous 0.2 and estimate 0.3; Core Personal Consumption Expenditures price index year-on-year, previous 3 and estimate 3.1; Gross Domestic Product Annualized, previous 2.2 and estimate 3.2; and the Gross Domestic Product Price Index, previous 6.1 and estimate 3.5.

Medium-impact prints share that 12:30 UTC time today: Personal Spending, previous 0.9 and estimate 0.6; Personal Consumption Expenditures price index year-on-year, previous 3.4 and estimate 3.6; Personal Consumption Expenditures prices quarter-on-quarter, previous 5 and estimate 3.4; Personal Income month-on-month, previous 0.2 and estimate 0.3; Initial Jobless Claims, previous 194 and estimate 199; Core Personal Consumption Expenditures quarter-on-quarter, previous 3.3 and estimate 2.4; and Personal Consumption Expenditures price index month-on-month, previous 0.3 and estimate 0.5. Tomorrow at 12:30 UTC the medium-impact Employment Cost Index is due, previous 0.9 and estimate 0.8. These figures include no record of how the same releases moved Bitcoin before, so the list is a schedule beside the levels, not a forecast. The times match the economic calendar.

Crypto Daily reports a large bitcoin purchase, Cryptonews writes about options rolling off once policy uncertainty had faded, and Tokenpost and CoinPedia both discuss whether a cycle trough is already behind the market.

The opportunity read on news coverage is bearish at a score of -83, and an alert on that read records a 24-hour move from -6, neutral, to -34, bearish. News volume is 103 percent of its 90-day average. That is coverage tone, not a reason for the next price move.

As of the week to October 20, large speculators were net long Bitcoin (BTC/USD), with 53.8 percent of speculative positions long, 46.2 percent short and a net 2418 contracts. Speculators reduced that net long Bitcoin (BTC/USD) over the week, down 116 contracts from 2534, a delayed positioning snapshot rather than a forecast.

Bottom Line

In London, Bitcoin (BTC/USD) is at 79815.14, down 1.75% on the day, between S2 at 79589.21 and S1 at 80414.97 and under the round level at 80000. H4 and H1 are down, the daily trend is mixed and daily RSI is 47.8, so the evidence stays neutral. A break below S2 would open S3 at 78926.11, while a break above R1 at 81903.83 would open R2 at 82566.93, with the daily pivot at 81078.07 as the invalidation on each path.