Bitcoin Retreats from One-Month High on US Midterm Election Concerns

BTC is trading around 76.6K, having fallen 2% over the past 24 hours, and remains below its SMA20/SMA50. Although the RSI at 33.6 is approaching oversold territory, no reversal signal has yet appeared; the MACD is negative and below its signal line, indicating weak momentum. US midterm election concerns are a news flow weighing on risk appetite, supporting the near-term selling bias. Still, the low RSI level keeps alive the possibility of a limited rebound; the bias is therefore tilted to the downside, but confidence is moderate. Over the next 1-3 days, 75.5K-76K should be watched as support and 77.2K-77.7K as resistance.

COIN may be negatively affected by Bitcoin's retreat from a one-month high on US midterm concerns; short-term pressure is likely due to high beta to cryptocurrencies. The price is trading at 137.87, below the SMA20 (145.6) and SMA50 (155.2), confirming a weak trend. RSI14 at 31.6 is near the oversold threshold; this suggests that part of the decline may already be priced in and increases the risk of rebound buying. MACD is negative and below the signal line, momentum remains downward. Volatility is high after a 13% drop in 24 hours; therefore, directional uncertainty is elevated and confidence should be kept low.