Bitcoin (BTC/USD) News Today: Uptrend Holds as Price Probes R2

Market news Bullish bias Oct 5, 2026, 01:48 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Bitcoin pushes higher during the Asia session, maintaining an upward trend across multiple timeframes. Traders are eyeing overhead resistance levels ahead of today's US ISM Services PMI data.

News coverage currently centers on a large overhead liquidation cluster near $90,000 and notable order book bids below the midpoint, as reported by publishers like Tokenpost and BeInCrypto. Commentary also touches on the broader appeal of holding various assets. These are topics being reported, not demonstrated drivers of price.

Bitcoin Probes Resistance as Bullish Momentum Builds

During the Asia session, Bitcoin (BTC/USD) is trading at 86,721.82, up 917.03 or 1.07% on the day. The daily range of 1,227.78 dollars covers 56% of the 14-day average true range. The broader market trend points up across the daily, four-hour, and one-hour timeframes, and yesterday's close was 85,804.79. The daily relative strength index sits at 66.8, and price is holding above the daily 200-period exponential moving average at 75,047.78.

According to the weekly CFTC Commitments of Traders report as of the week to September 29, large speculators were net long Bitcoin (BTC/USD), though speculators reduced net long Bitcoin (BTC/USD) compared to the prior reading. News sentiment currently reflects a bullish tone with a media mood score of 83 out of 100, while the opportunity reading stands at 58.

Key Support and Resistance Zones

Price currently sits between R1 at 86,274.96 and R2 at 86,745.14. The nearest resistance is R2, resting 23.32 dollars away, while the nearest support is R1, positioned 446.86 dollars below current price action. Yesterday's high was 85,859.51, and the previous day low was 84,503.71. For broader context, the 5-day window spans from a low of 82,899.17 to a high of 87,232.12. The 20-day high is located at 87,389.44, with the low at 74,872.58.

Trading Scenarios: Bullish Continuation vs Retracement

Looking at the upside, a break above R2 at 86,745.14 would open the way to R3 at 87,630.76. A move back below the daily pivot at 85,389.34 would invalidate this view.

Alternatively, a break below S1 at 84,919.16 would open the way to S2 at 84,033.54. A move back above the daily pivot at 85,389.34 would invalidate it.

US ISM Services PMI: The Next Scheduled Catalyst

Looking ahead, London opens at 07:00 UTC. The economic calendar for today brings the S&P Global Composite PMI at 13:45 UTC, with an estimate of 58.4. Attention then shifts to the high-impact US ISM Services PMI at 14:00 UTC, carrying an estimate of 55.7. The ISM Services Prices Paid, New Orders, and Employment indexes are also scheduled for release at 14:00 UTC, offering further data points for all ForexR analysis for Bitcoin (BTC/USD).