ASML posted record Q3 revenue, but doubts about whether long-term demand will materialize are weighing on risk appetite. BTC, as a high-beta asset, is among the first to follow the decline. I believe this pullback is not over yet, as macro funds are moving out of both tech and crypto.

The current price is 80,865.9, down 3.3% over 24 hours. The low of 80,168 is now very close, and the price has fallen 6.5% from its high over the past four hours, with a clear descending channel. The bid-to-ask ratio across the top ten levels of the order book is just 0.01: there are over 1,300 sell orders but only 11 buy orders, indicating extreme selling pressure. The funding rate remains positive at 0.0023%, so longs have not capitulated. Open interest stands at 31,000 coins. 80,168 is the key support level; if it breaks, the next level to watch is 79,865.

Strategy: If price rebounds to around 81,530, open a small short position, with a stop-loss at 81,960 and a target of 79,865. If 80,168 breaks on strong volume, consider adding to the short toward 79,240, with a stop-loss at 80,680. Keep position size below 20%, and avoid holding a large position against the trend while funding rates are positive.

—These are solely my personal views and do not constitute investment advice. Wishing you successful trading.—

$BTC#ASML posts record Q3 revenue, but can long-term demand materialize?