@Pleader Ishan highlights the $75,000–76,000 area as critical support for Bitcoin. In the author's view, a move back above $78,000 would improve the short-term outlook, while a break below $75,000 would increase the risk of further declines. I tested this idea against recent trading and institutional flows.
CONFLICT
Bitcoin is once again in a situation where one strong bounce could create the illusion of a reversal. But the market has already shown how quickly it can wipe out a recovery.
On November 5, BTC lost around 5.5%. During the day, the price fell to $75,208. On November 6, it remained around $76,000.
Buyers haven’t even reclaimed $78,000 yet. So it’s too early to talk about an uptrend recovery.
WHAT THE DATA SAYS
U.S. spot Bitcoin ETFs saw outflows of around $430.2 million on November 5. Total outflows from crypto ETFs amounted to $546.2 million.
This is a significant signal. After an attempted recovery, institutional demand weakened again.
Additional pressure came from the stock market. A sell-off in technology and semiconductor stocks coincided with the decline in cryptocurrencies. According to CoinMarketCap, liquidations of leveraged long positions amplified the move.
ANALYSIS
The $75,000–$76,000 zone matters right now not because it’s a round number. It contains the recent low and a potential point where buyers need to show genuine demand.
But I wouldn’t buy just because the price touches support.
If BTC breaks below $75,000, holds below it, and then fails to reclaim the level, there will be grounds to consider a further decline toward $73,200.
If, however, buyers reclaim $78,000 and then hold that level on a retest, selling pressure may ease.
TRADING PLAN
Main scenario: SHORT after a confirmed breakdown.
Activation zone: below $75,000.
Entry: after a four-hour close below $75,000 and a failed retest of this area from below.
Stop-loss: $76,200.
TP1: $73,200.
TP2: $71,800.
TP3: $70,000.
Invalidation: a decisive move back above $76,200. If the market doesn’t offer a retest, don’t chase the price.
Risk per trade: 0.5–1% of capital.
ALTERNATIVE SCENARIO
If BTC holds $75,000–$76,000 and reclaims $78,000, a recovery toward $79,500–$80,000 may become possible.
However, a sustained move above $80,000–$81,300 would be needed for a full shift in the short-term structure. Until then, I’d view any rise as a corrective bounce.
WHAT COULD GET IN THE WAY
The main danger is a false break below $75,000 followed by a quick move back above it. In that case, sellers could get trapped.
The second risk is a sharp improvement in the U.S. stock market or an unexpected macroeconomic signal.
CONCLUSION
Pleader Ishan correctly identified the $75,000–$76,000 zone. But support alone is not yet a buy signal.
I would wait for the market’s reaction. If the level is lost and the retest fails, a move down to $73,200 becomes a viable scenario. If buyers reclaim $78,000, it’s better to abandon the short position.
For now, preserving capital matters more than trying to catch every move.
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