$HYPE I still remember that spike to 97, but it’s been sliding all the way down these past few days, and early this morning it got pushed straight into the 82 range 😂
The current price is around 84.37, down about 3.3% in 24 hours, with a high of 89.07 and a low of 82.85. It’s still up about 7.7% over the past 7 days, mostly thanks to that big bullish candle on October 29, when it reached a high of 97.19.
The problem is that it hasn’t made a new high since that run. The daily highs have dropped from 94 to 90, then to 89—getting lower each day. Yesterday afternoon, a 4-hour candle plunged from around 89 to 85.3, and early this morning it dipped to 82.85. That coincided with a broader market sell-off, with Bitcoin falling below 77,000. The daily MA7 is around 85.9, and the price has already fallen below it; the MA20, around 81.4, is still providing support below. The 4-hour chart looks worse: price is below both moving averages, and they’ve also turned downward.
Futures trading volume over 24 hours is around 793 million U, with open interest at about 4.3 million coins—volume hasn’t slowed at all. I’m watching 82.85 as the first support, followed by the MA20 around 81.4. Overhead resistance is around 86, then around 89.
I’m leaning bearish. Until it gets back above 86, I’ll treat any bounce as a weak rebound.
Beginners should watch more and trade less. If you’re buying crypto, only buy $BTC
The current price is around 84.37, down about 3.3% in 24 hours, with a high of 89.07 and a low of 82.85. It’s still up about 7.7% over the past 7 days, mostly thanks to that big bullish candle on October 29, when it reached a high of 97.19.
The problem is that it hasn’t made a new high since that run. The daily highs have dropped from 94 to 90, then to 89—getting lower each day. Yesterday afternoon, a 4-hour candle plunged from around 89 to 85.3, and early this morning it dipped to 82.85. That coincided with a broader market sell-off, with Bitcoin falling below 77,000. The daily MA7 is around 85.9, and the price has already fallen below it; the MA20, around 81.4, is still providing support below. The 4-hour chart looks worse: price is below both moving averages, and they’ve also turned downward.
Futures trading volume over 24 hours is around 793 million U, with open interest at about 4.3 million coins—volume hasn’t slowed at all. I’m watching 82.85 as the first support, followed by the MA20 around 81.4. Overhead resistance is around 86, then around 89.
I’m leaning bearish. Until it gets back above 86, I’ll treat any bounce as a weak rebound.
Beginners should watch more and trade less. If you’re buying crypto, only buy $BTC
