$BTC Mountain over Earth, Bo (剥), Gen above Kun below. The mountain rests on the earth, peeling away layer by layer—on Nov. 5, the daily close was around 76,041, dropping back below 77,500. Price is grinding near the daily EMA200; don’t mistake an intraday spike back up for a trend reversal to the upside.
Bitcoin is currently around 75,950. Yesterday’s low was revised down to 75,162, and bears regained the upper hand at the daily close. Publicly reported U.S. spot BTC ETF totals for Nov. 5 show net outflows of about $68.8 million (checkable against public data, not official/Farside figures; ARKB about −18.9, GBTC about −49.9, with large-holder details still incomplete)—the direction hasn’t turned yet. I’m inclined to wait for a rebound into the 77.5–78.5k range and scale into shorts; with price near the EMA200, I wouldn’t chase shorts at the current price or below yesterday’s low.
I’m inclined to wait for a pullback and scale into shorts:
Entry: 77,500 / 77,746 / 78,540 (scale in at those levels; no trade if price doesn’t reach them)
Stop loss: 80,000 (with extra room beyond the daily EMA20)
Take profit 1: 76,041
Take profit 2: 75,162
Take profit 3: 74,000
At the first take-profit target, close half the position and move the stop loss to breakeven. If the daily candle closes above 80,000, the plan is invalidated. The next milestone is Lidong on Nov. 7; over the next few days, watch whether the weekly close on Nov. 9 can hold above 77,500.
Peel back one layer at a time—do you think Bitcoin will first pull back to 77.5–78.5k and give you a short entry, or test 75.2k again first?
Follow me—I’ll share updates as things unfold. Personal opinion, not investment advice.
Bitcoin is currently around 75,950. Yesterday’s low was revised down to 75,162, and bears regained the upper hand at the daily close. Publicly reported U.S. spot BTC ETF totals for Nov. 5 show net outflows of about $68.8 million (checkable against public data, not official/Farside figures; ARKB about −18.9, GBTC about −49.9, with large-holder details still incomplete)—the direction hasn’t turned yet. I’m inclined to wait for a rebound into the 77.5–78.5k range and scale into shorts; with price near the EMA200, I wouldn’t chase shorts at the current price or below yesterday’s low.
I’m inclined to wait for a pullback and scale into shorts:
Entry: 77,500 / 77,746 / 78,540 (scale in at those levels; no trade if price doesn’t reach them)
Stop loss: 80,000 (with extra room beyond the daily EMA20)
Take profit 1: 76,041
Take profit 2: 75,162
Take profit 3: 74,000
At the first take-profit target, close half the position and move the stop loss to breakeven. If the daily candle closes above 80,000, the plan is invalidated. The next milestone is Lidong on Nov. 7; over the next few days, watch whether the weekly close on Nov. 9 can hold above 77,500.
Peel back one layer at a time—do you think Bitcoin will first pull back to 77.5–78.5k and give you a short entry, or test 75.2k again first?
Follow me—I’ll share updates as things unfold. Personal opinion, not investment advice.
