🚨 Bitcoin Weekly Update: Can BTC Hold the $76.5K Support Amid Macro Turmoil?📊 Technical OverviewBitcoin’s strong 3 mon…

🚨 Bitcoin Weekly Update: Can BTC Hold the $76.5K Support Amid Macro Turmoil?

📊 Technical Overview

Bitcoin’s strong 3 months rally has hit a sharp pause. After testing resistance close to $82,000, BTC pulled back noticeably toward $77,300, leaving a long upper wick on the monthly chart.

On the four‑hour timeframe, a steep sell‑off broke short‑term consolidation, pushing the 4‑hour RSI down to an oversold reading of 38.69 as price tests support around $76,500.

The monthly RSI stands at a neutral 50.24, which points to a momentum reset rather than a full breakdown of the longer‑term macro trend.

🌍 Fundamental Overview

A string of key early‑November economic releases is prompting traders to reduce risk exposure:

• US Midterm Elections on 3 November: Political uncertainty and potential future crypto regulatory changes are adding to market swings.

• Central bank and macro policy outlook: Interest rate forecasts and ongoing inflation worries continue to shape sentiment for all risk assets.

• Non‑Farm Payrolls on 6 November: Friday’s labour data will be a major driver for Treasury yields and market expectations around Fed rate cuts.

💡 Key Takeaway

Short‑term sellers are in control for now, but the broader upward macro trend is still intact.

The critical level to watch is $76,500. If buyers can hold this zone, we may see a period of sideways movement to absorb selling pressure before prices move higher again.

If BTC falls clearly below $76,500 though, a deeper pullback could follow before the longer‑term uptrend resumes.

Disclaimer: For information only, not financial and investment advice. Do your own due diligence.

$BTC/USD(BTCUSD.HAS)