Bitcoin (BTC) is trading around $73,833 today, up +0.25% in the last 24 hours. After dipping to $73,390, buyers stepped in and defended the key support zone once again.
All eyes are now on the US CPI data coming tomorrow, 13 Nov.
Key Levels To Watch:
Support: $73,390 - $73,100 - $72,100
Resistance: $74,811 - $75,764
What Is Happening In The Market?
ETF Outflows: US Spot Bitcoin ETFs saw around $95M in outflows. Big investors are still cautious.
Fear & Greed At 28: The market is in Fear. Historically, when everyone is scared, smart money starts accumulating slowly.
CPI Tomorrow: If CPI comes in hot, it could push the Fed towards a rate hike and put more pressure on BTC. If CPI comes in cool, a bounce towards $75,700 is possible.
My Take:
As long as BTC stays above $73,100, the structure is still safe for a bounce. But if BTC breaks below $73,100, the next major support could be $71,400 where large liquidations are waiting.
Traders are waiting, holders are using DCA on this dip.
What do you think? Will BTC hold $73K or drop to $68K? Drop your target in the comments 👇
Not financial advice. DYOR.