Bitcoin rebounds from key support near $76K, faces resistance ahead

Friday's selloff attracted buying interest

Bitcoin fell to its weakest level since September 17 on Friday as stock markets dropped sharply. The decline stopped at a critical support zone around $76,052, where the 100-day moving average and the 38.2% Fibonacci retracement of the rally from the July 1 low came together.

That support gave buyers a clear area to work with, and the cryptocurrency recovered over the weekend. The bounce pushed past the 100-hour moving average, climbing to roughly $78,740 before turning lower again.

The digital asset is now trading near $77,741, once again below its 100-hour moving average of $77,912. This places sellers back in a more advantageous position in the short run.

What would tilt the balance toward buyers?

To regain control, buyers first need to push and hold the price above the 100-hour moving average at $77,912. Without that move, the weekend recovery remains exposed to downside risk.

Beyond that level, the next major resistance sits around $79,120. Swing lows from October 24 and October 26, together with the declining 200-hour moving average, are concentrated in that area.

A breakout above that resistance—and holding above it—would reinforce the bullish case and give buyers greater command. Until that happens, sellers can lean on technical barriers during any recovery.

Sellers have more work to do on the downside

While sellers hold the near-term edge, pushing lower requires breaking through a series of support levels:

• $76,545: The current 100-day moving average.

• $76,052: The 38.2% retracement of the rally from the July 1 low.

• $74,925: September lows.

• $73,161: The 200-day moving average.

The rising 100-day moving average acts as the first important benchmark. A drop below that level would refocus attention on $76,052. Moving under both would strengthen the bearish outlook and open the path toward September lows, followed by the 200-day moving average.

A recovery, but buyers still have to prove themselves

Friday's support held, but the rebound has not yet shifted the advantage to buyers. Below $77,912, sellers keep the upper hand in the near term. Above that, $79,120 becomes the next objective.