👀 BTC has been "standing in the corner" at the $75K doorstep for a third day; the 50-week moving average is its last fig leaf
📌 First, the numbers (data as of 7:12 this morning; live prices from TradingView):
BTC $75,631, 24h -0.21%; ETH $2,229.8, -0.15%; SOL $89.16, -0.73%; BNB $693.87, +0.20%; APT $0.5994, -0.83%.
🔹 Here's what happened on Friday: The US added 165,000 jobs in October, versus expectations of just 65,000. The hotter-than-expected jobs data pushed the probability of a Fed rate hike in December straight to nearly 80%. As rate-hike expectations returned, crypto took the first hit—$1.27 billion in liquidations across the market on Friday, while spot ETFs saw net outflows of about $870 million over the first four trading days of November.
🔹 The technical picture is pretty straightforward, too: BTC closed at $80,504 on November 4, then fell back to $75,844 in just two days, hitting a low of $74,888 on November 6. At $75,631, it's sitting just above the 50-week moving average at $75,556—only $75 higher, with its toes barely touching the ground. The MA7 is at $77,272 and the MA25 at $79,981; price is below both moving averages, so the short-term outlook is bearish.
💡 There is some good news: Kazakhstan's central bank announced on November 5 that it would invest $90 million in Bitcoin ETFs, and Strive scooped up 15,124 BTC in October alone—the big long-term players are still buying the dip; it's just that no one dares to catch the falling knife in the short term.
My take: bearish consolidation. As long as $75,556 holds, there's still a case to be made; getting back above $77,272 would offer some breathing room. But if $74,888 breaks, there isn't much meaningful support below.
Are you bullish or bearish today? Tell us in the comments 👇
$BTC $ETH $SOL
#BTC #ETH #SOL
For reference only; this is not investment advice
📌 First, the numbers (data as of 7:12 this morning; live prices from TradingView):
BTC $75,631, 24h -0.21%; ETH $2,229.8, -0.15%; SOL $89.16, -0.73%; BNB $693.87, +0.20%; APT $0.5994, -0.83%.
🔹 Here's what happened on Friday: The US added 165,000 jobs in October, versus expectations of just 65,000. The hotter-than-expected jobs data pushed the probability of a Fed rate hike in December straight to nearly 80%. As rate-hike expectations returned, crypto took the first hit—$1.27 billion in liquidations across the market on Friday, while spot ETFs saw net outflows of about $870 million over the first four trading days of November.
🔹 The technical picture is pretty straightforward, too: BTC closed at $80,504 on November 4, then fell back to $75,844 in just two days, hitting a low of $74,888 on November 6. At $75,631, it's sitting just above the 50-week moving average at $75,556—only $75 higher, with its toes barely touching the ground. The MA7 is at $77,272 and the MA25 at $79,981; price is below both moving averages, so the short-term outlook is bearish.
💡 There is some good news: Kazakhstan's central bank announced on November 5 that it would invest $90 million in Bitcoin ETFs, and Strive scooped up 15,124 BTC in October alone—the big long-term players are still buying the dip; it's just that no one dares to catch the falling knife in the short term.
My take: bearish consolidation. As long as $75,556 holds, there's still a case to be made; getting back above $77,272 would offer some breathing room. But if $74,888 breaks, there isn't much meaningful support below.
Are you bullish or bearish today? Tell us in the comments 👇
$BTC $ETH $SOL
#BTC #ETH #SOL
For reference only; this is not investment advice
