BTC closed below its 200-day average — the verdict is in. $BTC
12 Nov close: $71,460, down 3.45% on the day, below the SMA200 at $73,137. It held on 10 and 11 Nov. Not anymore. Now $71,100, down 4.1% in 24h — it traded under $71,000 overnight, a 12-week low. Fear and Greed: 20, Extreme Fear.
What pushed it: Fed officials turned hawkish on Thursday, US stocks fell, Nvidia closed 4.3% lower after the resignation shock. ETF outflows now 5 straight days. BTC also fell below its 50-week average of $75,153, erasing September's bullish signal.
The rest of the board closed weak too: INIT $0.1146 under $0.1258, UNI $6.07 under $6.10, ZEC $957 under $1,000, GRAM failed its EMA20 reclaim again. PEPE held its SMA50, NEAR held $3.40, SUI held $0.80.
Expectations (not a guarantee):
Deribit, 13 Nov expiry 13:00 PKT: reclaim $73,137 only ~3%, below $70,000 ~18%, chop between ~79%.
History, fresh closes under the SMA200 (N=6): up 5% first 17%, down 5% first 17%, flat 67%. 5 of 6 were back above within 7 days.
Next test: US PPI tonight 18:30 PKT.
Plan: stand aside. Long only on a daily close back above $73,137, stop under $70,688. Below $70,000 opens $68,000. Tiny size, spot only. Confidence: Low.
#BTC #Bitcoin #Crypto
12 Nov close: $71,460, down 3.45% on the day, below the SMA200 at $73,137. It held on 10 and 11 Nov. Not anymore. Now $71,100, down 4.1% in 24h — it traded under $71,000 overnight, a 12-week low. Fear and Greed: 20, Extreme Fear.
What pushed it: Fed officials turned hawkish on Thursday, US stocks fell, Nvidia closed 4.3% lower after the resignation shock. ETF outflows now 5 straight days. BTC also fell below its 50-week average of $75,153, erasing September's bullish signal.
The rest of the board closed weak too: INIT $0.1146 under $0.1258, UNI $6.07 under $6.10, ZEC $957 under $1,000, GRAM failed its EMA20 reclaim again. PEPE held its SMA50, NEAR held $3.40, SUI held $0.80.
Expectations (not a guarantee):
Deribit, 13 Nov expiry 13:00 PKT: reclaim $73,137 only ~3%, below $70,000 ~18%, chop between ~79%.
History, fresh closes under the SMA200 (N=6): up 5% first 17%, down 5% first 17%, flat 67%. 5 of 6 were back above within 7 days.
Next test: US PPI tonight 18:30 PKT.
Plan: stand aside. Long only on a daily close back above $73,137, stop under $70,688. Below $70,000 opens $68,000. Tiny size, spot only. Confidence: Low.
#BTC #Bitcoin #Crypto