Bitcoin November Outlook Hinges On $79,100 Support

Bitcoin (BTC) traded near $80,144 at 05:58 UTC on 29th October 2026. It had slipped below Wednesday's $81,250.12 close, putting the October floor near $79,100 back in focus. Two higher daily closes had eased the recent decline, but the recovery remained below its recent average.

The latest completed daily candle closed at $81,250.12 on 28th October, after $80,811 on Tuesday. Those two higher closes interrupted the preceding five daily declines. Thursday's unfinished candle had given back part of that recovery at the observation time.

Where does the daily chart leave Bitcoin?

Using completed UTC daily candles, calculations from the price history put Bitcoin's 50 day simple moving average, the mean of its last 50 daily closes, at $81,887. The 200 day average stood at $73,066. BTC remained below its recent average but above the longer one. Both averages will change as new daily closes arrive.

The 14 day relative strength index, which compares recent gains and losses, stood at 47.6 on the completed candle. Momentum had improved from 41.5 on Monday, but remained below the neutral midpoint of 50. The two day rebound had yet to establish a stronger daily trend.

Wednesday's volume on the chart's exchange was 1,373 BTC, close to its preceding 20 day daily average of 1,382 BTC. The higher close therefore came with ordinary activity on this venue, rather than a clear expansion in trading volume.

Have fund flows turned stronger?

US Bitcoin exchange-traded funds (ETFs) attracted a combined $423.6 million over 26th to 28th October, according to Farside Investors. The three daily inflows replaced about 55% of the $773.5 million withdrawn on 22nd and 23rd October. Flows had improved, but had not recovered all of those withdrawals.

What would make November look stronger?

The first bullish test is a daily close above roughly $81,900, followed by a pullback that holds that area. That would put price back above the current 50 day average and make $84,850, the rounded 21st October high, the next chart reference.

A subsequent break and hold above $84,850 would strengthen the recovery scenario towards $87,200, near the 2nd October high. These are conditional chart tests for November. A later daily close back below the reclaimed level would invalidate the corresponding breakout.

What happens if support fails?

The 24th October low of $79,145.75 and 26th October low of $79,260.02 form the immediate support area. A daily close below roughly $79,100, followed by a failed attempt to regain it, would undermine the recovery case. Earlier lows on 28th August, 2nd September and 11th September mark an intermediate area around $76,000 to $76,900. Below that sits the 15th September low near $74,900, followed by the current 200 day average near $73,100. A daily close back above $79,100 would fail the initial breakdown test.

If support holds while $81,900 continues to repel advances, the alternative is consolidation between those levels. A daily close outside that band would end that narrower range scenario. It would take a move beyond $84,850 to clear the larger recent swing high.

The Federal Reserve held its policy rate range at 3.75% to 4% on 28th October. November's next dated tests include the October jobs report on 6th November and consumer inflation on 10th November, both scheduled for 13:30 UTC. They arrive with Bitcoin still below its recent average and its October opening price.