Bitcoin has edged back above $76,000 on Nov. 7, but weak daily momentum and another $411.9 million in U.S. spot ETF withdrawals have left its recovery close to a key weekly support level.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to the daily price chart, Bitcoin traded at $76,070 at 09:31 UTC, up 0.30% during Saturday\u2019s daily session. The price had moved between $75,790 and $76,250, a relatively narrow range after the week\u2019s failed recovery above $80,000.<\/p>\n Earlier this week, Bitcoin\u2019s move above that threshold coincided with $378.09 million in hourly short liquidations<\/a>, as crypto.news previously reported. By Saturday, the cryptocurrency was roughly 5.5% below the $80,470 price recorded during that rally.<\/p>\n The weekly chart placed Bitcoin at $76,085, down 2.90% from its weekly opening price of $78,354. A high of $81,196 and low of $74,888 showed how much ground the market had covered before settling back near $76,000.<\/p>\n Despite briefly trading below the $75,000 Murrey Math pivot, Bitcoin remained above it in the Saturday snapshot. The weekly candle was still open, leaving the final position relative to that level unsettled.<\/p>\n In a Nov. 7 post<\/a>, market commentator Max Crypto identified the 50-week moving average as the key level to watch. His chart placed the average at $75,561.73, leaving Bitcoin less than 1% above it.<\/p>\n \u201cHold it, and bulls will be in control,\u201d he wrote, warning that losing the average could bring further weakness.<\/p>\n <\/p>\n Daily indicators offered less encouragement. Bitcoin remained below the middle Bollinger band, its 20-day simple moving average, at $79,459.22. The lower band stood at $74,660.74, placing another technical reference just beneath the weekly pivot.<\/p>\n At 38.78, the daily relative strength index remained below both the neutral 50 level and its own average of 40.04. Momentum was weak, although the reading remained above the conventional oversold threshold of 30.<\/p>\n The price had improved from Friday\u2019s $75,799 chart reading, when Bitcoin was defending the same support<\/a> area. Over that interval, however, the middle Bollinger band fell from approximately $79,759, showing that the modest rebound had not reversed the declining daily average.<\/p>\n The upper daily Bollinger band stood at $84,257.70, above both the failed $80,000 recovery and the nearest liquidation concentrations. On the weekly Murrey Math grid, the next labeled level beneath $75,000 was $62,500.<\/p>\n CoinGlass\u2019s three-day liquidation heatmap showed nearby overhead concentrations around $76,500\u2013$77,500. Bitcoin would encounter that zone before reaching the daily moving average, which stood roughly 4.5% above Saturday\u2019s chart price.<\/p>\n Farther overhead, a prominent band appeared around $81,400\u2013$81,600, with another concentration near $82,200. Both remained above the week\u2019s latest high.<\/p>\n Below the market, visible clusters gathered near $75,000 and approximately $74,400\u2013$74,600. The latter area sat close to the daily lower Bollinger band, concentrating several chart references within a relatively small price range.<\/p>\n Market commentator Crypto Lens offered a more bearish scenario in a separate Nov. 7 post, projecting a path from $76,000 through $70,000 to $65,000 before a later recovery. His illustration labeled $65,000 a potential final bear trap and showed an eventual $110,000 target.<\/p>\n\n
Bitcoin holds weekly support as daily momentum stays weak<\/h2>\n
![\"Bitcoin](\"https:\/\/media.crypto.news\/2026\/11\/BTCUSDT_2026-11-07_15-03-38.webp\")
![\"Bitcoin](\"https:\/\/media.crypto.news\/2026\/11\/BTCUSDT_2026-11-07_15-01-45.webp\")
Liquidation concentrations sit above and below $76,000<\/h2>\n
![\"Bitcoin](\"https:\/\/media.crypto.news\/2026\/11\/BTC-Liquidation-Heatmap3-day-2026-11-07_15_00_58.webp\")