BTC briefly broke below $76,000 this morning — then reversed and climbed back above $78,000 within hours.
Facts: BTC hit a low of around $75,736 during the morning session on Nov 4 (coindoo, Nov 4), then bounced to $78,164 — back above the 0.382 retracement around $76,066 and the 100-day average around $76,850. The live data I checked this afternoon is consistent: the 4H low was $75,696, and the price is now around $78,470. Behind the move, TradingView/CryptoBriefing (Nov 4) reported total liquidations of around $366 million, with about $100 million from BTC positions. CoinDesk (Nov 4) added that BTC call option block trades more than doubled from the previous day, and 10x Research sees BTC as oversold with potential for a bounce toward $82,000 — although the broader trend remains in consolidation below $80,000–$82,000.
My take: this was a sweep and reclaim, not a confirmed reversal. What caught my attention about this bounce is that buyers stepped in right after the key level broke, not before — and they pushed the price back above two levels that had just been broken to the downside. But one bounce hasn't changed the structure: until BTC closes a 4H candle comfortably above $78,500, I still see this as a recovery within a consolidation, not a new uptrend. ETH also bounced from around $2,225 to around $2,322, reinforcing the view that this is a broad-market bounce, not a single-coin story.
What I'm watching next: whether BTC holds above $76,850 at the next 4H close, or falls back below $76,066 — plus two events this evening: eurozone flash CPI at 17:00 WIB and the US ISM Services PMI at 22:00 WIB.
Do you think this is the start of a recovery or just a bounce before another drop?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #PemulihanPasar $BTC $ETH
Facts: BTC hit a low of around $75,736 during the morning session on Nov 4 (coindoo, Nov 4), then bounced to $78,164 — back above the 0.382 retracement around $76,066 and the 100-day average around $76,850. The live data I checked this afternoon is consistent: the 4H low was $75,696, and the price is now around $78,470. Behind the move, TradingView/CryptoBriefing (Nov 4) reported total liquidations of around $366 million, with about $100 million from BTC positions. CoinDesk (Nov 4) added that BTC call option block trades more than doubled from the previous day, and 10x Research sees BTC as oversold with potential for a bounce toward $82,000 — although the broader trend remains in consolidation below $80,000–$82,000.
My take: this was a sweep and reclaim, not a confirmed reversal. What caught my attention about this bounce is that buyers stepped in right after the key level broke, not before — and they pushed the price back above two levels that had just been broken to the downside. But one bounce hasn't changed the structure: until BTC closes a 4H candle comfortably above $78,500, I still see this as a recovery within a consolidation, not a new uptrend. ETH also bounced from around $2,225 to around $2,322, reinforcing the view that this is a broad-market bounce, not a single-coin story.
What I'm watching next: whether BTC holds above $76,850 at the next 4H close, or falls back below $76,066 — plus two events this evening: eurozone flash CPI at 17:00 WIB and the US ISM Services PMI at 22:00 WIB.
Do you think this is the start of a recovery or just a bounce before another drop?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #PemulihanPasar $BTC $ETH