Bitcoin defended the levels that mattered, and that is why it bounced. 📊
Coindoo reported on 4 November that sellers pushed Bitcoin below the 100 day moving average near 76,850 dollars and through the 0.382 Fibonacci level near 76,066 dollars, with the wick reaching 75,736 dollars before buyers stepped in and drove price back up to a session high of 78,164 dollars. 🚀 My reading is that this is textbook level defence, because a dip below a well watched average and Fib level that fails to hold below them traps late shorts and invites buyers back in fast. The lesson is not that every dip buys itself, it is that a failed breakdown at a known level is one of the cleanest long setups in a range.
Did you buy the failed breakdown below 76,066, or watch it from the sidelines? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
Coindoo reported on 4 November that sellers pushed Bitcoin below the 100 day moving average near 76,850 dollars and through the 0.382 Fibonacci level near 76,066 dollars, with the wick reaching 75,736 dollars before buyers stepped in and drove price back up to a session high of 78,164 dollars. 🚀 My reading is that this is textbook level defence, because a dip below a well watched average and Fib level that fails to hold below them traps late shorts and invites buyers back in fast. The lesson is not that every dip buys itself, it is that a failed breakdown at a known level is one of the cleanest long setups in a range.
Did you buy the failed breakdown below 76,066, or watch it from the sidelines? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
