Market Update & Trade Setup: Why Bitcoin Is Lagging Above $75K
On Friday, November 6, $BTC dipped below the $75,000 support level before rebounding to around $75,600. While chip stocks led a strong recovery in the US stock market after Thursday's rout, Bitcoin is still lagging behind equities.
Why Is Slowing Down?
Strong US Jobs Data: The October jobs report came in at 165,000 jobs vs. the 131,000 top forecast.
Rate Hike Pressure: December Fed rate hike odds jumped to 77%, and the 10-year US bond yield hit 4.877%, making traders cautious with leverage.
📊 $BTC Key Trading Levels to Watch:
Current Holding Zone: ~$75,600 (+0.42%)
Major Support Zone: $74,800 – $75,000 (Key demand zone where buyers stepped in on Friday)
Immediate Resistance: $76,200 – $76,800
Bullish Scenario (Long): If $BTC holds above $75,600 and breaks $76,200 with volume, momentum can push toward $77,500+.
Bearish Scenario (Short): A 4H candle close back below $75,000 can trigger another liquidity sweep toward $73,800.
Are you longing the $75,600 bounce or waiting for a deeper pullback? 👇
#BitcoinRebounds75KAsChipsLeadBTC
On Friday, November 6, $BTC dipped below the $75,000 support level before rebounding to around $75,600. While chip stocks led a strong recovery in the US stock market after Thursday's rout, Bitcoin is still lagging behind equities.
Why Is Slowing Down?
Strong US Jobs Data: The October jobs report came in at 165,000 jobs vs. the 131,000 top forecast.
Rate Hike Pressure: December Fed rate hike odds jumped to 77%, and the 10-year US bond yield hit 4.877%, making traders cautious with leverage.
📊 $BTC Key Trading Levels to Watch:
Current Holding Zone: ~$75,600 (+0.42%)
Major Support Zone: $74,800 – $75,000 (Key demand zone where buyers stepped in on Friday)
Immediate Resistance: $76,200 – $76,800
Bullish Scenario (Long): If $BTC holds above $75,600 and breaks $76,200 with volume, momentum can push toward $77,500+.
Bearish Scenario (Short): A 4H candle close back below $75,000 can trigger another liquidity sweep toward $73,800.
Are you longing the $75,600 bounce or waiting for a deeper pullback? 👇
#BitcoinRebounds75KAsChipsLeadBTC