BTCUSD: Bearish Pressure Persists Below 76,224 Resistance

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of BTCUSD for November 10, 2026.

Technical Analysis of BTCUSD

BTCUSD Daily Chart Insight

(BTCUSD Daily Chart, Source: Ultima Markets MT5)

BTCUSD remains under bearish pressure following a sustained correction from its September highs near 86,500. The price has fallen below the red 16-period moving average (MA16), purple 50-period moving average (MA50), and blue 100-period moving average (MA100), indicating that sellers currently maintain the broader advantage. The red MA16 is declining sharply toward the still-rising blue MA100, while the purple MA50 has begun turning lower, suggesting weakening medium-term momentum.

Meanwhile, the daily RSI at 37.53 reflects persistent selling pressure without yet entering oversold territory. Although the latest candles indicate some hesitation near the recent lows, a sustained recovery remains unconfirmed. Buyers would need to reclaim the 76,700–78,100 resistance zone, where the red MA16 and blue MA100 converge, to ease the prevailing bearish pressure. Otherwise, the market remains vulnerable to another test of the recent support area near 73,900.

Key Levels:

• Support 1 (73,000–73,900): The immediate support zone corresponds to the recent November lows, where buying interest has briefly interrupted the decline.
• Resistance 1 (76,700–78,100): A significant resistance zone formed by the red MA16 and blue MA100, alongside the previous breakdown area.
• Resistance 2 (80,900–82,300): The next major resistance area, reinforced by the declining purple MA50 and previous price consolidation.
• Resistance 3 (85,100–86,500): The higher resistance zone associated with the September and early October swing highs.

BTCUSD 2-Hour Chart Analysis

(BTCUSD 2-Hour Chart, Source: Ultima Markets MT5)

BTCUSD continues to exhibit a bearish short-term structure despite a modest recovery from its recent lows. The price has rebounded toward 75,000 and moved slightly above the declining red 16-period moving average (MA16), but remains below the purple 50-period moving average (MA50) and blue 100-period moving average (MA100). Both the purple MA50 and blue MA100 continue to slope downward, reinforcing the broader bearish alignment. The latest rebound follows a sharp breakdown from the previous consolidation near 75,900, suggesting that buyers are attempting to stabilise the market.

However, the RSI at 47.29 remains below the neutral midpoint, indicating that bullish momentum has yet to establish a clear advantage. Unless the price decisively reclaims the 75,900 resistance area, the recovery may remain corrective, with renewed selling pressure potentially driving another test of the recent lows.

Breakout Scenarios:

• Bullish continuation is a possible scenario, triggered by a decisive break and hold above 75,900. This could open the way toward 76,438, followed by the blue MA100 resistance near 76,981.
• Bearish correction is the higher-probability alternative, triggered by a failure to sustain the recovery above 74,811, followed by a decisive breakdown. This could expose the recent support zone around 73,727–73,185.

BTCUSD Pivot Indicator

(BTCUSD 30-Minute Chart, Source: Trading Central)

BTCUSD is currently trading near 75,172, remaining below the main pivot resistance at 76,224, which maintains the immediate bearish preference. Although the price has stabilised following its recent decline, the recovery has yet to challenge the pivot level. The RSI at 58.35 indicates improving short-term buying momentum, while the MACD at 105.08 has recovered into positive territory, with the MACD line positioned above its signal line.

These readings suggest that a temporary rebound remains possible, although they have not confirmed a broader bullish reversal. As long as BTCUSD remains below 76,224, the prevailing pivot outlook continues to favour downside risks, with 73,442 and 72,987 identified as the next support targets.

• Bearish Breakdown: A sustained rejection below the 76,224 pivot would maintain the bearish preference, with the first downside target at 73,442, followed by 72,987. A reversal lower in the RSI from its current 58.35 reading, accompanied by a bearish MACD crossover, would strengthen the downside scenario.
• Bullish Reversal: A decisive breakout and sustained hold above 76,224 would weaken the immediate bearish outlook, opening the way toward the first upside target at 77,002, followed by 77,465. Further strengthening in the RSI, alongside the MACD remaining positive and above its signal line, would provide additional confirmation of improving bullish momentum.

Disclaimer Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.