Weekend market check, and my plan for the week ahead.
$BTC sits near $76,070 on Binance after a quiet day trading between a $74,888 low and a $76,378 high. The Fear & Greed Index is at 25, Extreme Fear, down from 50 just two days ago. Total crypto cap is about $2.57T per CoinGecko, with BTC dominance near 59%, so money is hiding in Bitcoin rather than chasing alts.
The big event is US CPI on Tuesday, Nov 10 at 7:00pm IST. Until then I expect chop inside that range.
My view through Nov 13: if BTC holds $74,900 on daily closes into CPI and the print comes in soft, a squeeze toward $78,000 is likely because sentiment is this washed out. A daily close below $74,900 opens $73,000 next, and alts like $ETH would likely bleed harder.
My bearish case is wrong if BTC closes a day above $78,000 before CPI.
#CryptoMarket #Bitcoin #CPI #FearAndGreed
Not financial advice.
$BTC sits near $76,070 on Binance after a quiet day trading between a $74,888 low and a $76,378 high. The Fear & Greed Index is at 25, Extreme Fear, down from 50 just two days ago. Total crypto cap is about $2.57T per CoinGecko, with BTC dominance near 59%, so money is hiding in Bitcoin rather than chasing alts.
The big event is US CPI on Tuesday, Nov 10 at 7:00pm IST. Until then I expect chop inside that range.
My view through Nov 13: if BTC holds $74,900 on daily closes into CPI and the print comes in soft, a squeeze toward $78,000 is likely because sentiment is this washed out. A daily close below $74,900 opens $73,000 next, and alts like $ETH would likely bleed harder.
My bearish case is wrong if BTC closes a day above $78,000 before CPI.
#CryptoMarket #Bitcoin #CPI #FearAndGreed
Not financial advice.
