$BTC 71,000 Still didn’t hold.
Woke up this morning to find the low hit 70,688, with the current price around 70,850.
At least it held at 71,255 overnight, but this morning it broke straight through.
Held that line all night, then dawn came and it broke just like that.
71,000 has now flipped into resistance.
Next, watch the retest: if it bounces up to 71,000 and can’t get past it, that confirms the bears are in control, and 65,000 is the next level to watch.
On the other hand, if it can reclaim 71,000, I’ll call today’s move a false breakdown.
I’m not chasing shorts here.
After falling all the way from 74,800, shorting at 70,800 leaves me with no idea where to place a stop-loss. The risk-reward is too poor.
If I do make a move, I’ll wait for a rejection at 71,000 on the retest, or for tonight’s 21:30 PPI.
PPI remains the biggest wild card tonight.
If it comes in hotter than expected, a December rate hike is all but certain, and 65,000 could come very quickly.
If it meets or falls below expectations, I’ll look for a rebound first, with 73,200 as the first target.
ETH is at 2,019. It’s still hovering around 2,000—not broken below, but not holding firmly either. It’s following BTC.
ZEC is at 954, hovering between 933 and 961. The long-entry zone at 895–933 and stop-loss at 872 are unchanged.
If you’re on the sidelines, don’t get itchy trigger fingers. No new positions before the data.
I’ll wait for the retest and the PPI. I’ll act once either signal comes through.
Personal analysis; not investment advice.
#BTC
Woke up this morning to find the low hit 70,688, with the current price around 70,850.
At least it held at 71,255 overnight, but this morning it broke straight through.
Held that line all night, then dawn came and it broke just like that.
71,000 has now flipped into resistance.
Next, watch the retest: if it bounces up to 71,000 and can’t get past it, that confirms the bears are in control, and 65,000 is the next level to watch.
On the other hand, if it can reclaim 71,000, I’ll call today’s move a false breakdown.
I’m not chasing shorts here.
After falling all the way from 74,800, shorting at 70,800 leaves me with no idea where to place a stop-loss. The risk-reward is too poor.
If I do make a move, I’ll wait for a rejection at 71,000 on the retest, or for tonight’s 21:30 PPI.
PPI remains the biggest wild card tonight.
If it comes in hotter than expected, a December rate hike is all but certain, and 65,000 could come very quickly.
If it meets or falls below expectations, I’ll look for a rebound first, with 73,200 as the first target.
ETH is at 2,019. It’s still hovering around 2,000—not broken below, but not holding firmly either. It’s following BTC.
ZEC is at 954, hovering between 933 and 961. The long-entry zone at 895–933 and stop-loss at 872 are unchanged.
If you’re on the sidelines, don’t get itchy trigger fingers. No new positions before the data.
I’ll wait for the retest and the PPI. I’ll act once either signal comes through.
Personal analysis; not investment advice.
#BTC
