Bitcoin (BTC/USD) Latest News: Price Slides Below Pivot

Market news Bearish bias Nov 4, 2026, 02:21 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Bitcoin is trading lower in the Asia session at 76,844.66 amid news of early US midterm election results. Technicals point to a bearish bias as the daily, H4, and H1 trends align downward.

Midterm Election Results and Early Crypto Action

Bitcoin (BTC/USD) is currently trading at a bid of 76,844.66 and an ask of 76,859.66 during the Asia session, maintaining a spread of 15 dollars. The cryptocurrency sits positioned between S1 at 76,690.54 and the daily pivot at 77,334.28. The newsflow is currently tracking early US midterm election results running alongside declines in both Bitcoin and US equity futures, according to coverage from BeInCrypto, while CryptoTicker reports on the Texas Senate race. Separately, reports of an exchange covering customer losses after a massive hack (Bitcoin) and the movement of funds from Binance's SAFU to an unlabeled address (Unchained) are also drawing attention. These are topics being reported, not demonstrated drivers of price action.

Bitcoin (BTC/USD) Technical Landscape

On the day, the cryptocurrency opened at 77,805.37 and is currently down 1.22%, shedding 948.61 dollars from yesterday's close of 77,793.27. The Bitcoin (BTC/USD) rate has established a day high at 77,883.12 and a day low at 76,692.68. This creates a daily range of 1,190.44 dollars, accounting for 59% of the 14-day average true range of 2,016.22 dollars. Looking at yesterday's bar for November 3, Bitcoin saw a high of 77,978.03 and a low of 76,231.55, forming a range of 1,746.48 dollars before finalizing trading at a close of 77,793.27.

In our ongoing Bitcoin (BTC/USD) analysis, the technical picture aligns downward across multiple timeframes. The trend state reads down on the daily chart, where price sits below the 20-period EMA of 79,800.26 and the 50-period EMA of 80,065.09, though it remains above the 200-period EMA of 76,240.33. The daily RSI sits at 40.5. The downward momentum continues on the 4-hour chart, where price is trading under the 20-period EMA of 77,469.05 and the 50-period EMA of 78,389.45. Similarly, the 1-hour chart displays a down trend, with the 20-period EMA at 77,261.93 and the 50-period EMA at 77,335.38 acting as overhead context. Over the longer term, Bitcoin shows a 5-day change of -2.44% and a 20-day change of -5.87%.

Looking at the immediate chart layout, the nearest support rests at S1 at 76,690.54, while the nearest resistance is the daily pivot at 77,334.28. Below current price action, the nearest round number is 76,000, while 77,000 sits above. Beyond the immediate levels, the pivot ladder points to additional resistance at R1 at 78,437.02, R2 at 79,080.76, and R3 at 80,183.5. On the downside, if selling pressure breaks through S1, the next support layers are S2 at 75,587.8 and S3 at 74,944.06.

The 5-day window shows a high of 79,685.15 and a low of 76,173.36. Expanding the view, the 20-day high is located at 84,844.39, while the low matches the 5-day extreme at 76,173.36. Media mood data provides additional context, showing a bearish opportunity reading of -70 for Bitcoin. Meanwhile, CFTC Commitments of Traders data as of the week to October 27 shows that large speculators added to net long Bitcoin (BTC/USD).

Bullish and Bearish Scenarios for the Sessions Ahead

For the bearish case, a break below S1 at 76,690.54 would open the way to S2 at 75,587.8. In this setup, a move back above the daily pivot at 77,334.28 would invalidate it, signaling a shift in momentum. In a bullish scenario, a break above R1 at 78,437.02 would open the way to R2 at 79,080.76, while a move back below the daily pivot at 77,334.28 would invalidate that view, keeping the current bearish alignment intact.

Macro Horizon: ADP Employment and ISM Services PMI Ahead

Ahead of the London open at 07:00 UTC, the economic calendar points to a busy schedule of US data releases today. The US ADP Employment Change is scheduled for 13:15 UTC. This is followed by the S&P Global Composite PMI at 14:45 UTC. At 15:00 UTC, the market will take in the ISM Services PMI, alongside its New Orders, Prices Paid, and Employment indexes.