$BTC just printed its lowest prices since late August. Sunday's dip hit about $73,510 on Binance and today it's trading near $74,400 with Fear & Greed at 29 and US CPI out tomorrow.
On Nov 6 I said a daily close under $75,200 would point toward $73,000 next. That close came on Sunday, and the low got within about $500 of the target.
My view through Fri Nov 13: the $73,500 area is the floor to watch. A daily close below it leaves little support until the $70,000 area that August's breakout ran through. If BTC instead gets a daily close above $76,200 (it hasn't closed above that since Nov 4), I'd expect a squeeze toward $78,000 next.
I lean bearish while it stays under $76,200, and I'm wrong if it closes above $78,000 this week.
#BTC #Bitcoin #CPI #PriceAnalysis Not financial advice.
On Nov 6 I said a daily close under $75,200 would point toward $73,000 next. That close came on Sunday, and the low got within about $500 of the target.
My view through Fri Nov 13: the $73,500 area is the floor to watch. A daily close below it leaves little support until the $70,000 area that August's breakout ran through. If BTC instead gets a daily close above $76,200 (it hasn't closed above that since Nov 4), I'd expect a squeeze toward $78,000 next.
I lean bearish while it stays under $76,200, and I'm wrong if it closes above $78,000 this week.
#BTC #Bitcoin #CPI #PriceAnalysis Not financial advice.
