$BTC fell below 73,500 overnight, and is now struggling right around this level
$BTC is currently trading around 73,510 USDT, down 1.95% over the past 24 hours, with volume of about 1.28 billion USDT. The 24-hour range: 72,727 to 75,010 USDT.
The notable move was the overnight sweep: the price broke below the 73,500 support level, dropping as low as 72,727 USDT before buyers stepped back in. It is now struggling right above 73,500. Selling pressure continued after October CPI came in hotter than expected yesterday, with the core figure hitting exactly the 0.3% threshold that Fed Governor Waller had previously cited as a condition for a 0.5 percentage-point increase in December.
A learning point: when the price sweeps below a support level and immediately recovers, it is often a liquidity sweep. Buyers only truly regain the upper hand when the price holds firmly above 73,500 and retests the 74,500–75,000 area.
Do you think $BTC will hold the 73,500 level today, or will there be another sweep below 72,700 USDT?
(Not investment advice)
$BTC is currently trading around 73,510 USDT, down 1.95% over the past 24 hours, with volume of about 1.28 billion USDT. The 24-hour range: 72,727 to 75,010 USDT.
The notable move was the overnight sweep: the price broke below the 73,500 support level, dropping as low as 72,727 USDT before buyers stepped back in. It is now struggling right above 73,500. Selling pressure continued after October CPI came in hotter than expected yesterday, with the core figure hitting exactly the 0.3% threshold that Fed Governor Waller had previously cited as a condition for a 0.5 percentage-point increase in December.
A learning point: when the price sweeps below a support level and immediately recovers, it is often a liquidity sweep. Buyers only truly regain the upper hand when the price holds firmly above 73,500 and retests the 74,500–75,000 area.
Do you think $BTC will hold the 73,500 level today, or will there be another sweep below 72,700 USDT?
(Not investment advice)
