Bitcoin maintains a bearish outlook on the 4-hour chart, with the displayed price at 80,247.85 following rejection from wave X/(c) near 84,849.70. The Elliott Wave count preserves the completed W-X structure, followed by a developing (a)-(b)-(c) decline. Since October 23, price has weakened from 81,381.60, supporting the previous bearish forecast. The latest chart marks further downside at 79,253.95, while the blue projection anticipates a temporary wave (c) rebound toward the 50.0% Fibonacci area near 80,650 before another decline toward approximately 78,500. A sustained break below 79,253.95 would strengthen bearish continuation, whereas recovery above 84,849.70 would invalidate the annotated bearish structure.
Technical Summary of Bitcoin Price for October 26, 2026
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Trend: Bearish.
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Current Elliott Wave: Developing (a)-(b)-(c) decline following wave X.
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Key Support Levels: 79,253.95 (annotated downside objective); 78,500 (projected).
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Key Resistance Levels: Approximately 80,650 (50% Fibonacci); 84,849.70.
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Next Price Target: 79,253.95, followed by approximately 78,500.
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Invalidation Level: 84,849.70 (annotated).
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Fibonacci Levels: 50.0% near 80,650, projected rebound resistance.
Trader's Question: Can Bitcoin resume its decline after a Fibonacci rebound?
A rejection near the 50% retracement would favor renewed selling pressure toward 79,253.95 and potentially 78,500.