$BTC
Will Bitcoin manage a weekly close above $78,500?
*The honest answer: It’s very difficult this week.*
Current price: *$75,955*
We need a close above: *$78,500*
That means we need a *+3.35%* rise in less than 14 hours, before Monday’s close at 2:59 a.m.
Why is it difficult?
*1. Volume is dead*
It’s Sunday, and volume is down 66%. Strong breakouts are uncommon in crypto over the weekend. The market is moving slowly.
*2. ETFs are working against us*
This week was the worst:
- *$1.28 billion* flowed out of Bitcoin funds
- *-$411 million* on Friday alone
- BlackRock alone sold *$403 million* on Friday
That means institutions are selling.
*3. Price is below resistance*
Every rally attempt this week stalled at *$78,042*—the same area we need to break through. The price is now $2,500 below it.
*4. Fifth consecutive losing week*
Bitcoin is on the verge of recording its fifth consecutive red week—this has happened only twice since 2017. Momentum is negative.
What are the odds of success this week?
*Just 20%–25%*
It could happen if something unexpected occurs today, such as major positive news or a whale buying a huge amount over the weekend. Otherwise, it’s difficult.
When would it make sense?
The following weekly close, on *Monday, November 16*, is the more important one.
Because by then, we’ll have had:
- *CPI on Tuesday, November 10*—if it comes in cool, that could be the catalyst to push us above $78,500
- A full week of trading, not a weekend
#SouthKoreaDraftLawTargets15To20%ShareholderCap #JobsReportRaisesHikeOdds #WillAnthropicListOnTime
$BTC
Will Bitcoin manage a weekly close above $78,500?
*The honest answer: It’s very difficult this week.*
Current price: *$75,955*
We need a close above: *$78,500*
That means we need a *+3.35%* rise in less than 14 hours, before Monday’s close at 2:59 a.m.
Why is it difficult?
*1. Volume is dead*
It’s Sunday, and volume is down 66%. Strong breakouts are uncommon in crypto over the weekend. The market is moving slowly.
*2. ETFs are working against us*
This week was the worst:
- *$1.28 billion* flowed out of Bitcoin funds
- *-$411 million* on Friday alone
- BlackRock alone sold *$403 million* on Friday
That means institutions are selling.
*3. Price is below resistance*
Every rally attempt this week stalled at *$78,042*—the same area we need to break through. The price is now $2,500 below it.
*4. Fifth consecutive losing week*
Bitcoin is on the verge of recording its fifth consecutive red week—this has happened only twice since 2017. Momentum is negative.
What are the odds of success this week?
*Just 20%–25%*
It could happen if something unexpected occurs today, such as major positive news or a whale buying a huge amount over the weekend. Otherwise, it’s difficult.
When would it make sense?
The following weekly close, on *Monday, November 16*, is the more important one.
Because by then, we’ll have had:
- *CPI on Tuesday, November 10*—if it comes in cool, that could be the catalyst to push us above $78,500
- A full week of trading, not a weekend
#SouthKoreaDraftLawTargets15To20%ShareholderCap #JobsReportRaisesHikeOdds #WillAnthropicListOnTime
$BTC