While most people are in panic mode and predicting new lows, Bitcoin is exactly where the bullish structure should hold.
The current price is hovering around $75.7K/$76K, and the Fear & Greed Index is at Extreme Fear (25).
The price has returned to the same $75K region as months ago, but sentiment has completely changed. The last time we were here, most people were greedy. Now most are expecting $60K and lower.
Historically, Extreme Fear has coincided with local bottom zones or strong accumulation zones. On August 6, 2026, the index was also at Extreme Fear, with Bitcoin around $64K. Over the next 30 days, it rose about 24%, returning to the $80K region. I also called for a move up then, and it will be no different now.
The Short-Term Holder Cost Basis (Glassnode): $75.7K, and the 50-week moving average: $75.5K.
The price is sitting right at this level. This isn't just any support—it's the line where the structure built since August holds or breaks. So far, it is holding.
Additionally, the recent downward move has already liquidated a significant amount of long positions. When excess leverage is cleared and sentiment reaches extreme fear, downward momentum fades and the risk of a short squeeze rises sharply. That's what we should see later in November.
As soon as #BTC recovers $77K/$78K with strength, the path back to the $80K/$82K region quickly opens up. From there, we can finally leave all this chaos behind.
The market is in extreme fear at the same price where there was greed before.
The technical structure is still alive.
And there is still plenty of time left in November.
Most people are expecting further declines, but
a higher low is forming now, just as it did at $60K.
The current price is hovering around $75.7K/$76K, and the Fear & Greed Index is at Extreme Fear (25).
The price has returned to the same $75K region as months ago, but sentiment has completely changed. The last time we were here, most people were greedy. Now most are expecting $60K and lower.
Historically, Extreme Fear has coincided with local bottom zones or strong accumulation zones. On August 6, 2026, the index was also at Extreme Fear, with Bitcoin around $64K. Over the next 30 days, it rose about 24%, returning to the $80K region. I also called for a move up then, and it will be no different now.
The Short-Term Holder Cost Basis (Glassnode): $75.7K, and the 50-week moving average: $75.5K.
The price is sitting right at this level. This isn't just any support—it's the line where the structure built since August holds or breaks. So far, it is holding.
Additionally, the recent downward move has already liquidated a significant amount of long positions. When excess leverage is cleared and sentiment reaches extreme fear, downward momentum fades and the risk of a short squeeze rises sharply. That's what we should see later in November.
As soon as #BTC recovers $77K/$78K with strength, the path back to the $80K/$82K region quickly opens up. From there, we can finally leave all this chaos behind.
The market is in extreme fear at the same price where there was greed before.
The technical structure is still alive.
And there is still plenty of time left in November.
Most people are expecting further declines, but
a higher low is forming now, just as it did at $60K.
