📉BTC bearish in the short term; 74,000 support faces a test
As of November 10 at 20:41 (Beijing time), BTCUSDT perpetual was at 74,172, down 0.90% over 24 hours, with a trading volume of 8.68 billion USDT. OI reached 7.42 billion, up 2.70%, and the funding rate was +0.0078%/8 hours. Prices fell while open interest rose; longs paid funding but failed to push prices higher, pointing to short-term weakness. Market snapshot (https://swolecharts.com/coin/BTC)
As of 20:00, aggressive selling accounted for 54.4% across the last 4 hourly candles. The latest closed 1-hour RSI was around 42, and the MACD negative histogram bars were expanding, indicating selling pressure was dominant. Candlestick data (https://fapi.binance.com/fapi/v1/klines?symbol=BTCUSDT&interval=1h&limit=100)
Over the next 4–24 hours, prices are likely to continue moving lower: support is at 74,000, with 73,700 in view if it breaks. Resistance is at 74,550; if the hourly close holds above it, the bearish outlook is invalidated, with 75,000 back in view.
#BTC #BTCUSDT #比特币 #Market analysis
As of November 10 at 20:41 (Beijing time), BTCUSDT perpetual was at 74,172, down 0.90% over 24 hours, with a trading volume of 8.68 billion USDT. OI reached 7.42 billion, up 2.70%, and the funding rate was +0.0078%/8 hours. Prices fell while open interest rose; longs paid funding but failed to push prices higher, pointing to short-term weakness. Market snapshot (https://swolecharts.com/coin/BTC)
As of 20:00, aggressive selling accounted for 54.4% across the last 4 hourly candles. The latest closed 1-hour RSI was around 42, and the MACD negative histogram bars were expanding, indicating selling pressure was dominant. Candlestick data (https://fapi.binance.com/fapi/v1/klines?symbol=BTCUSDT&interval=1h&limit=100)
Over the next 4–24 hours, prices are likely to continue moving lower: support is at 74,000, with 73,700 in view if it breaks. Resistance is at 74,550; if the hourly close holds above it, the bearish outlook is invalidated, with 75,000 back in view.
#BTC #BTCUSDT #比特币 #Market analysis