🚨 Bitcoin holds a key level: Situation analysis as of November 3, 2026
$BTC is trading around $76,500–$77,200.
Glassnode’s STH MVRV metric is at 1.02, indicating zero profit for short-term holders.
Historically, a break below $76,000 would trigger cascading liquidations.
🔹 Key support level: $76,000
🔹 Nearest resistance: $81,850–$82,000
Has a local bottom formed for a move higher, or are we headed down to $73,000? In the meantime, here’s the technical analysis and trading setup:
Bitcoin (BTC/USDT)
Levels
Resistance: $81,850 (R1), $85,000 (R2), $87,000 (R3)
Support: $76,000 (S1), $73,500 (S2), $69,000 (S3)
Trading setup (Long)
Entry point: $76,200–$76,800 (if price consolidates and a bullish engulfing pattern forms on the 4H chart)
Stop-loss: $75,400 (below the key $76,000 level)
Take-profits:
TP1: $80,500
TP2: $81,800
TP3: $84,500
Risk/Reward ratio: ~1:3.2
#bitcoin #CryptoNews #BinanceSquare #BTC
$BTC is trading around $76,500–$77,200.
Glassnode’s STH MVRV metric is at 1.02, indicating zero profit for short-term holders.
Historically, a break below $76,000 would trigger cascading liquidations.
🔹 Key support level: $76,000
🔹 Nearest resistance: $81,850–$82,000
Has a local bottom formed for a move higher, or are we headed down to $73,000? In the meantime, here’s the technical analysis and trading setup:
Bitcoin (BTC/USDT)
Levels
Resistance: $81,850 (R1), $85,000 (R2), $87,000 (R3)
Support: $76,000 (S1), $73,500 (S2), $69,000 (S3)
Trading setup (Long)
Entry point: $76,200–$76,800 (if price consolidates and a bullish engulfing pattern forms on the 4H chart)
Stop-loss: $75,400 (below the key $76,000 level)
Take-profits:
TP1: $80,500
TP2: $81,800
TP3: $84,500
Risk/Reward ratio: ~1:3.2
#bitcoin #CryptoNews #BinanceSquare #BTC
