Today’s Bitcoin analysis (Monday, 2 November 2026) reviews Bitcoin against the U.S. dollar (BTC/USD) on the daily timeframe. Price is currently trading near $77,000 (−1.55%), amid the formation of a head and shoulders pattern that presents two opposing scenarios for the next phase.
📊 Levels Map
▲ Bullish scenario
Bullish scenario (alternative): if price holds and forms a bottom at support, a rebound could target a recovery toward 104,435 then 121,086.
▼ Invalidation scenario
Bearish scenario: a break and close below the neckline area confirms the head and shoulders pattern and opens the way toward 48,672 then 31,440.
Bitcoin at a glance
- Current price: around $77,044 (−1.55%).
- Resistance: $104,435, then $121,086.
- Support: $48,672, then $31,440.
- Technical pattern: head and shoulders (bearish reversal).
The head and shoulders pattern on Bitcoin
The chart shows a forming head and shoulders pattern: a left shoulder, then a head at a peak near $128,000, then a right shoulder. It is one of the best-known bearish reversal patterns; a break of the neckline points to a possible deeper decline. With price currently trading near the neckline area, the coming days are decisive in confirming the pattern or not.
Key technical levels
| Level | Value (USD) | Significance |
|---|---|---|
| Upper resistance | 121,086 | Range top and farther upside target |
| Major resistance | 104,435 | Right shoulder zone |
| Current price | 77,044 | Near the neckline — decision zone |
| First support | 48,672 | First bearish target of the pattern |
| Major support | 31,440 | Deeper target if the break confirms |
Expected scenarios
Decision point: price’s reaction at the neckline and the 48,672 zone will determine which scenario prevails.
Factors affecting Bitcoin
Bitcoin is affected by market liquidity, the dollar’s direction, and bond yields after the Fed decision, along with Bitcoin ETF flows and the overall mood toward digital assets. Crypto volatility remains high, which makes risk management essential.
Bottom line
Today’s Bitcoin analysis hinges on the head and shoulders pattern; a neckline break favors a decline toward 48,672 then 31,440, while holding support could open a rebound toward 104,435 and higher. Watching price’s reaction at these levels remains the priority.
Frequently asked questions
Bitcoin (BTC/USD) is trading today near $77,044, close to the neckline of a head and shoulders pattern.
If the break confirms, the bearish targets extend toward $48,672 then $31,440.
Holding above the support zone and reclaiming $104,435 weakens the bearish pattern and favors the upside.
This content is for educational and informational purposes only and is not investment advice. Trading cryptocurrencies involves high risk; make your decisions based on your own circumstances and consult a professional if needed.
