Bitcoin sits at 73,500 dollars this morning, between two numbers that decide the week: 74,600 above and 68,000 below. 🤔
The 74,600 dollar level is the Fibonacci fan line that two time counts point to for today, November 11, and a break above it would be the first sign buyers are back in control after the hot CPI selloff and seven straight days of ETF outflows. 📊 The 68,000 dollar level is where the next fan line sits near 67,700 dollars if 74,600 dollars gives way, and it is also near the area that held in July before the 51 percent rally, so it is the number bears need to reach to prove this is a deeper correction. My reading is that Bitcoin is balanced on its 200 day average near 73,150 dollars, and the market will pick a side fast, because thin Veterans Day liquidity makes the move sharper once it starts, and the daily close above or below 73,150 dollars is the confirmation that matters.
Which comes first this week, 74,600 dollars or 68,000 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinPrice
The 74,600 dollar level is the Fibonacci fan line that two time counts point to for today, November 11, and a break above it would be the first sign buyers are back in control after the hot CPI selloff and seven straight days of ETF outflows. 📊 The 68,000 dollar level is where the next fan line sits near 67,700 dollars if 74,600 dollars gives way, and it is also near the area that held in July before the 51 percent rally, so it is the number bears need to reach to prove this is a deeper correction. My reading is that Bitcoin is balanced on its 200 day average near 73,150 dollars, and the market will pick a side fast, because thin Veterans Day liquidity makes the move sharper once it starts, and the daily close above or below 73,150 dollars is the confirmation that matters.
Which comes first this week, 74,600 dollars or 68,000 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinPrice
