🚨 Bitcoin lost the line that SAVED it in July… and everything will be decided this Sunday 👀
It’s heading for its sixth consecutive week in the red.
▪️ Bitcoin (~66,900): touched ~66,500, its lowest level since August, and fell below its 200-week average (~67,900)—the line that stopped its decline in July and marked the start of August’s rally. If it closes the week below that level on Sunday, the next major support is near 62,300. More than 1.4 billion was liquidated in 24 hours, almost all from people betting on a rally, and ETFs have now seen outflows for 7 straight days.
▪️ Ethereum (~1,895): touched 1,878 and is down 15% for the week. A wallet linked to the Ethereum Foundation has already sold 5,000 ETH in 5 days and still holds about 10,000. The “oversold” indicator is in extreme territory, which sometimes brings a rebound, but the trend remains bearish.
▪️ AVAX (~8.00): down ~5% and briefly fell below the 8.00 level it had been defending. The New York Stock Exchange news is still on track, but that system will run on its own network, so it doesn’t directly translate into more demand for AVAX.
Keep an eye on November 30: MSCI will remove Strategy, the company with the most Bitcoin, from its indexes, and the Fed makes its decision on December 9.
Would you buy at the 200-week line or wait for Sunday’s close? 👇
#Bitcoin #ETH #AVAX
It’s heading for its sixth consecutive week in the red.
▪️ Bitcoin (~66,900): touched ~66,500, its lowest level since August, and fell below its 200-week average (~67,900)—the line that stopped its decline in July and marked the start of August’s rally. If it closes the week below that level on Sunday, the next major support is near 62,300. More than 1.4 billion was liquidated in 24 hours, almost all from people betting on a rally, and ETFs have now seen outflows for 7 straight days.
▪️ Ethereum (~1,895): touched 1,878 and is down 15% for the week. A wallet linked to the Ethereum Foundation has already sold 5,000 ETH in 5 days and still holds about 10,000. The “oversold” indicator is in extreme territory, which sometimes brings a rebound, but the trend remains bearish.
▪️ AVAX (~8.00): down ~5% and briefly fell below the 8.00 level it had been defending. The New York Stock Exchange news is still on track, but that system will run on its own network, so it doesn’t directly translate into more demand for AVAX.
Keep an eye on November 30: MSCI will remove Strategy, the company with the most Bitcoin, from its indexes, and the Fed makes its decision on December 9.
Would you buy at the 200-week line or wait for Sunday’s close? 👇
#Bitcoin #ETH #AVAX
