Guys, BTC is at 73.4k now, and it’s been sliding all day.
This morning at eight, I said the outlook was bearish and that there’d be no talk of a reversal unless it could get back above 74.6k. Well, forget 74.6k—it only reached 74.1k. It briefly touched that level at 8:50 and hasn’t gotten back up since. It just hit a new low for the day, too.
Each peak is lower than the last: 74.6k overnight, 74.1k this morning. Classic weakness.
Trading volume has fallen from over $32 billion to $25 billion. Nobody’s dumping—it’s just that nobody’s buying, so the price is slowly leaking lower.
My view hasn’t changed: still bearish. If it can’t reclaim 74.1k, don’t think about going long. 72.7k below is the low from CPI night. If that breaks, we’ll be looking for 72k.
U.S. stocks open tonight. If the Nvidia situation sends the market tumbling, BTC will probably test 72.7k. I’ll let you guys know as soon as it happens. #BTC $BTC
This morning at eight, I said the outlook was bearish and that there’d be no talk of a reversal unless it could get back above 74.6k. Well, forget 74.6k—it only reached 74.1k. It briefly touched that level at 8:50 and hasn’t gotten back up since. It just hit a new low for the day, too.
Each peak is lower than the last: 74.6k overnight, 74.1k this morning. Classic weakness.
Trading volume has fallen from over $32 billion to $25 billion. Nobody’s dumping—it’s just that nobody’s buying, so the price is slowly leaking lower.
My view hasn’t changed: still bearish. If it can’t reclaim 74.1k, don’t think about going long. 72.7k below is the low from CPI night. If that breaks, we’ll be looking for 72k.
U.S. stocks open tonight. If the Nvidia situation sends the market tumbling, BTC will probably test 72.7k. I’ll let you guys know as soon as it happens. #BTC $BTC
