$BTC — The $76K Area Becomes a Key Defense

Reference price: $76,171

BTC came under pressure again after previously rebounding above $80K. Market attention is now focused on the weekly low area, which serves as a buyer defense.

Weekly Fibonacci
Current week's swing reference: $75,736 – $81,196.

- 0.236: $77,025
- 0.382: $77,822
- 0.500: $78,466
- 0.618: $79,111
- 0.786: $80,028

Support & Resistance

- Main support: $75,736–$75,000
- Resistance 1: $77,025
- Resistance 2: $77,822
- Resistance 3: $78,466–$79,111

Market Scenarios

Bullish: BTC needs to hold $75,736 and reclaim $77,025. If successful, a recovery toward $77,822 to $78,466 becomes possible.

Bearish: If $75,736 is breached, selling pressure could continue toward the $75,000 area and the next support level.

Latest BTC News — November 5

There was a small dose of encouraging news from institutions. U.S. spot Bitcoin ETFs recorded $74.6 million in inflows on November 4 after three consecutive sessions of outflows.

However, BlackRock IBIT still recorded $201.2 million in outflows, while Fidelity FBTC received about $236.7 million in inflows.

BTC's earlier rebound was also driven by around $378 million in short liquidations within one hour. This means the rise has not yet fully confirmed a return of strong spot demand.

Conclusion:

BTC still needs confirmation of a recovery. The $75,736 area is the nearest defense, while $77,025 is the initial resistance that needs to be reclaimed.

For now, it's better to wait for confirmation rather than rush into a position amid market volatility.