$BTC closed Sunday below the level I called the warning. Here's what changes now 📉
On Binance spot, BTC's Nov 8 daily close was 74,851, under the Nov 6 low of 74,888. The day's low, 73,510, is the lowest since Aug 21, and the close is the lowest daily close since Aug 20 (UTC days). BTC was 74,126 at 3:40 p.m. PKT, Nov 9.
The weekly chart agrees: five weekly closes in a row, each lower than the last, from 86,530 (week of Sep 28) to 74,851.
Floor: 73,510, then the late-August lows near 73,000.
Ceiling: 74,888, which flips from support to resistance, then the 50-week average near 78,500.
My view: bearish below 74,888. A daily close back above it is the first sign sellers are tiring. CPI lands Tuesday at 6:30 p.m. PKT.
Does 74,888 hold as resistance? 👇
#bitcoin #TechnicalAnalysis
On Binance spot, BTC's Nov 8 daily close was 74,851, under the Nov 6 low of 74,888. The day's low, 73,510, is the lowest since Aug 21, and the close is the lowest daily close since Aug 20 (UTC days). BTC was 74,126 at 3:40 p.m. PKT, Nov 9.
The weekly chart agrees: five weekly closes in a row, each lower than the last, from 86,530 (week of Sep 28) to 74,851.
Floor: 73,510, then the late-August lows near 73,000.
Ceiling: 74,888, which flips from support to resistance, then the 50-week average near 78,500.
My view: bearish below 74,888. A daily close back above it is the first sign sellers are tiring. CPI lands Tuesday at 6:30 p.m. PKT.
Does 74,888 hold as resistance? 👇
#bitcoin #TechnicalAnalysis