Bitcoin defended $73,510 this morning. Now it's drifting back toward it. 🎯
$BTC is at about $74,314, down 2.1% today. The early-morning dip to $73,510 — its lowest since August — bounced on heavy volume, but the last few hours have been sliding back down.
The levels:
• Support: $73,510 — the Monday low, defended once already
• Resistance: $76,200 — today's high, where it topped out twice
• The big wall: $80,000 — Bitcoin jumped above it after the election, then failed to stay there
Bloomberg's Mike McGlone warned that failing to hold $80,000 could spill selling into other risk assets. The Fed is the swing factor into year-end, he says.
Tomorrow brings US inflation data (CPI). That's the next real test for this $73,510 line. Fear and Greed is at 29 — Fear.
I've watched Bitcoin since 2011. It has survived worse weeks than this one. The question is always the same: does the line hold?
Do you think $73,510 holds through CPI tomorrow?
#Bitcoin #BTC #Crypto
Not financial advice.
$BTC is at about $74,314, down 2.1% today. The early-morning dip to $73,510 — its lowest since August — bounced on heavy volume, but the last few hours have been sliding back down.
The levels:
• Support: $73,510 — the Monday low, defended once already
• Resistance: $76,200 — today's high, where it topped out twice
• The big wall: $80,000 — Bitcoin jumped above it after the election, then failed to stay there
Bloomberg's Mike McGlone warned that failing to hold $80,000 could spill selling into other risk assets. The Fed is the swing factor into year-end, he says.
Tomorrow brings US inflation data (CPI). That's the next real test for this $73,510 line. Fear and Greed is at 29 — Fear.
I've watched Bitcoin since 2011. It has survived worse weeks than this one. The question is always the same: does the line hold?
Do you think $73,510 holds through CPI tomorrow?
#Bitcoin #BTC #Crypto
Not financial advice.
