31 August 2026 – Rehana William |Financial Consultant _Forex_Gold Xauusd| Fund Manager
Technical Summary: BTCUSD is trading around 78,000 after a sharp rejection from the 79,300–79,400 resistance zone. Price has formed a short-term descending trendline, but buyers are defending the 77,400–77,500 support area. The structure suggests a potential recovery if price breaks the falling trendline with confirmation.
Bullish Scenario :
A sustained breakout above 78,200–78,500 can signal a trendline breakout and open the upside toward 79,000, followed by 79,200–79,400. A strong close above 79,400 would improve the broader bullish structure.
Bearish Scenario :
Failure to reclaim 78,200–78,500 may keep selling pressure active. A decisive break below 77,400 could extend the decline toward 77,000, with the next major demand zone around 76,800–76,900.
Key Levels :
Resistance : 78,200–78,500 | 79,000 | 79,200–79,400
Support : 77,400–77,500 | 77,000 | 76,800–76,900
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Market View: Neutral to bullish above 77,400. The preferred setup is a confirmed breakout/retest of the descending trendline for upside continuation. Below 77,400, the bullish setup weakens and downside momentum can increase.
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