$BTC Holds the $75K Line After a Hot Jobs Report. Breakdown Next?
BTC is near $75,750, after dipping to $74,762, its lowest since Aug 21. US payrolls beat forecasts by a wide margin (165,000 vs about 60,000 expected). Traders now price about a 77% chance of a December Fed rate hike. Before you buy, here's the full picture.
Support: $75,000, then $73,000
Resistance: $76,100, then $78,000 and $80,000
Bull: reclaims $76,100 and $78,000, then $80,000 and the $80,700 high.
Base: ranges between $74,000 and $78,000 while rate-hike fears are priced in.
Bear: loses $74,000 and the 50-week average, then $73,000 and $69,000.
TRADE IDEA
Don't catch the knife. Wait for support to hold.
Entry: $73,800-$75,200
Stop: daily close below $72,800
Target: $78,000, then $80,000
Risk/reward: about 3:1 to the second target
Keep leverage low.
RISKS
• December Fed hike odds are about 77% and the 10-year yield is near 4.9%
• ETFs saw about $430M of outflows on Nov 5
• BTC isn't following the stock-market rebound
• It sits right on its 50-week average, and a break opens $69,000
MY TAKE
Crypto is trading on rates and flows, not on headlines. Wait for $75K to hold and for ETF flows to turn. Buy support with a tight stop, don't catch the knife. Patience beats FOMO.
Would you buy the dip or stay out?
Not financial advice. DYOR.
#BTC
$BTC
BTC is near $75,750, after dipping to $74,762, its lowest since Aug 21. US payrolls beat forecasts by a wide margin (165,000 vs about 60,000 expected). Traders now price about a 77% chance of a December Fed rate hike. Before you buy, here's the full picture.
Support: $75,000, then $73,000
Resistance: $76,100, then $78,000 and $80,000
Bull: reclaims $76,100 and $78,000, then $80,000 and the $80,700 high.
Base: ranges between $74,000 and $78,000 while rate-hike fears are priced in.
Bear: loses $74,000 and the 50-week average, then $73,000 and $69,000.
TRADE IDEA
Don't catch the knife. Wait for support to hold.
Entry: $73,800-$75,200
Stop: daily close below $72,800
Target: $78,000, then $80,000
Risk/reward: about 3:1 to the second target
Keep leverage low.
RISKS
• December Fed hike odds are about 77% and the 10-year yield is near 4.9%
• ETFs saw about $430M of outflows on Nov 5
• BTC isn't following the stock-market rebound
• It sits right on its 50-week average, and a break opens $69,000
MY TAKE
Crypto is trading on rates and flows, not on headlines. Wait for $75K to hold and for ETF flows to turn. Buy support with a tight stop, don't catch the knife. Patience beats FOMO.
Would you buy the dip or stay out?
Not financial advice. DYOR.
#BTC
$BTC
