Bafang | BTC Midday Market Analysis 11.10
Data time: Beijing time 11.10 15:34
The Asian session was very quiet today—almost uncomfortably so.
$BTC From 9 a.m. until now, the high was 75,291 (during the 9 a.m. hour) and the low was 74,373 (during the 11 a.m. hour). The range for the day was less than $1,000. During the 1 p.m. hour, the price briefly touched 75,000 before getting pushed back down. It’s now at 74,850, up 1.11% over 24 hours.
The good news is that the daily EMA200 (74,585) held during the day. Price dipped below it briefly at 11, but quickly recovered.
📊 A few intraday details
The 11 a.m. candle had the highest volume of the morning since 9, at around 12.68 million USDT. There was selling as the price fell.
The 3 p.m. candle has only been open for half an hour, but volume is already around 14.88 million USDT—the highest since 9 a.m.—and the price is moving up.
The daily MACD histogram is at -470, continuing to narrow from -596 this morning. Daily RSI is 35.3; 4-hour RSI is 42.5.
💸 Fund flows
The funding rate is back to 0.01%, up from just 0.0027% this morning.
The long/short account ratio rose from 2.76 between 8 and 10 a.m. to 2.86 at 3 p.m.
Simply put, retail traders have quietly added to their long positions again ahead of CPI. I don’t like that.
$ETH 2,123, hit a low of 2,108 at 11 a.m., dipped below the lower Bollinger Band (2,110), then bounced back. It still hasn’t reached the daily MA200 at 2,154.
$SOL 86.45, with a daily RSI of 24.9, is still oversold.
On a side note, BNB is up 2.35% over 24 hours, making it the strongest of the major coins I’m watching.
🎯 Key levels
Resistance: 75,000 / 75,291 (today’s high) / 76,777 (200-day DCA cost)
Support: 74,585 (daily EMA200) / 74,373 (today’s low) / 73,632 (lower Bollinger Band) / 73,196 (daily MA200)
Outlook: Range-bound, waiting for CPI to set the direction.
Bafang’s take: There’s not enough movement during the day to justify trading. The real action will come after U.S. October CPI at 21:30 tonight (Beijing time). The forecast is 0.3% month over month, with core CPI at 0.2%. I’ll watch to see whether 75,291 or 74,373 breaks first before deciding whether to follow the move.
Once CPI comes out tonight, which do you think BTC will break first: 75,300 or down through 74,300?
(Personal opinion; not investment advice)
#BTC #CPI #MarketAnalysis
Data time: Beijing time 11.10 15:34
The Asian session was very quiet today—almost uncomfortably so.
$BTC From 9 a.m. until now, the high was 75,291 (during the 9 a.m. hour) and the low was 74,373 (during the 11 a.m. hour). The range for the day was less than $1,000. During the 1 p.m. hour, the price briefly touched 75,000 before getting pushed back down. It’s now at 74,850, up 1.11% over 24 hours.
The good news is that the daily EMA200 (74,585) held during the day. Price dipped below it briefly at 11, but quickly recovered.
📊 A few intraday details
The 11 a.m. candle had the highest volume of the morning since 9, at around 12.68 million USDT. There was selling as the price fell.
The 3 p.m. candle has only been open for half an hour, but volume is already around 14.88 million USDT—the highest since 9 a.m.—and the price is moving up.
The daily MACD histogram is at -470, continuing to narrow from -596 this morning. Daily RSI is 35.3; 4-hour RSI is 42.5.
💸 Fund flows
The funding rate is back to 0.01%, up from just 0.0027% this morning.
The long/short account ratio rose from 2.76 between 8 and 10 a.m. to 2.86 at 3 p.m.
Simply put, retail traders have quietly added to their long positions again ahead of CPI. I don’t like that.
$ETH 2,123, hit a low of 2,108 at 11 a.m., dipped below the lower Bollinger Band (2,110), then bounced back. It still hasn’t reached the daily MA200 at 2,154.
$SOL 86.45, with a daily RSI of 24.9, is still oversold.
On a side note, BNB is up 2.35% over 24 hours, making it the strongest of the major coins I’m watching.
🎯 Key levels
Resistance: 75,000 / 75,291 (today’s high) / 76,777 (200-day DCA cost)
Support: 74,585 (daily EMA200) / 74,373 (today’s low) / 73,632 (lower Bollinger Band) / 73,196 (daily MA200)
Outlook: Range-bound, waiting for CPI to set the direction.
Bafang’s take: There’s not enough movement during the day to justify trading. The real action will come after U.S. October CPI at 21:30 tonight (Beijing time). The forecast is 0.3% month over month, with core CPI at 0.2%. I’ll watch to see whether 75,291 or 74,373 breaks first before deciding whether to follow the move.
Once CPI comes out tonight, which do you think BTC will break first: 75,300 or down through 74,300?
(Personal opinion; not investment advice)
#BTC #CPI #MarketAnalysis