$BTC Bitcoin under billion-dollar pressure… Could the $73,000 zone become the major turning point?
When markets shake, traders split into two camps: those who sell for fear of further losses, and those who wait for a buying opportunity. But the more disciplined trader looks for confirmation of the trend before making a decision.
Today, Bitcoin (BTC) faces an important test after retreating toward $74,000, alongside a wave of liquidations in the cryptocurrency market exceeding $1 billion, according to a report published on the morning of November 9.
A technical analysis published today indicates that Bitcoin was trading near $74,800 on Monday morning, after recording its fifth consecutive losing week, with a weekly decline of around 4.5%.
Spot trade scenario to monitor
Reference price on the morning of November 9: 74,800 USDT
Resistance to reclaim: 75,500 USDT
Approximate 200-day moving average: 73,170 USDT
Conditional entry: Wait for a clear close above $75,500, followed by a successful retest of the level accompanied by improved trading volume.
Targets: Monitor the next resistance levels after a confirmed breakout. I do not have reliable, sufficiently up-to-date target levels to provide specific execution figures.
Stop-loss: Below the confirmed retest low, after calculating the risk ratio. Losing the $73,170–$73,000 zone could increase the likelihood of further declines
When markets shake, traders split into two camps: those who sell for fear of further losses, and those who wait for a buying opportunity. But the more disciplined trader looks for confirmation of the trend before making a decision.
Today, Bitcoin (BTC) faces an important test after retreating toward $74,000, alongside a wave of liquidations in the cryptocurrency market exceeding $1 billion, according to a report published on the morning of November 9.
A technical analysis published today indicates that Bitcoin was trading near $74,800 on Monday morning, after recording its fifth consecutive losing week, with a weekly decline of around 4.5%.
Spot trade scenario to monitor
Reference price on the morning of November 9: 74,800 USDT
Resistance to reclaim: 75,500 USDT
Approximate 200-day moving average: 73,170 USDT
Conditional entry: Wait for a clear close above $75,500, followed by a successful retest of the level accompanied by improved trading volume.
Targets: Monitor the next resistance levels after a confirmed breakout. I do not have reliable, sufficiently up-to-date target levels to provide specific execution figures.
Stop-loss: Below the confirmed retest low, after calculating the risk ratio. Losing the $73,170–$73,000 zone could increase the likelihood of further declines