In my view, Bitcoin still has more downside potential. Looking at the 1-hour chart, sellers appear to remain in control, and bearish momentum is still dominating the market.
Unless buyers show a strong reversal, I expect BTC to continue moving lower.
Bitcoin has reacted from the 75k to 76k daily orderzone, but sellers still control the broader structure.
The first thing I want to see now is buyers reclaim the midpoint of that orderzone around 76,280 and start holding above it on the daily.
That would be my first early sign that buyers are beginning to step back in.
Until then, this is still just a reaction from support.
If Bitcoin can hold above 76,280, then I’m watching 80k to 80.4k as the next major reclaim.
If the orderzone fails and we start closing below 75k, the next major level remains around 69.5k.
Key levels:
• Orderzone midpoint: 76,280 • Major support: 75k to 76k • First major reclaim: 80k to 80.4k • Major resistance above: 84.9k • Next downside level if support fails: 69.5k
For me, 76,280 is the first clue.
Hold above it on the daily and buyers are beginning to show their hand.
24h Rekt $647.36M Long $514.83M Short $132.53M According to CoinGlass, in the past 24 hours, 148,144 traders liquidated. Total liquidations were $647.36M. The largest observed liquidation order was on Binance - ETHUSDT, valued at $10.94M
This is a very important US economic report that tells us how many new jobs were created in industries other than agriculture in America.
In simple terms, NFP tells us whether employment in America is increasing or decreasing.
📌 Why Does NFP Affect the Market?
NFP has a direct impact on the US Dollar (USD). Because of USD movements, Gold, Bitcoin, Forex, and the Stock Market can also experience strong volatility.
📈 3 Important NFP Scenarios:
1️⃣ Actual NFP Is Higher Than Forecast
Example: Forecast: 150K Actual: 220K
This means more jobs were created in America than expected.
• The USD may strengthen. • Gold may come under bearish pressure. • BTC may also face selling pressure.
2️⃣ Actual NFP Is Lower Than Forecast
Example: Forecast: 150K Actual: 50K
This means fewer jobs were created than expected.
• The USD may weaken. • Gold may turn bullish. • BTC may receive upside support.
3️⃣ Actual NFP Matches the Forecast
Example: Forecast: 150K Actual: 150K
The market reaction may be relatively limited, but other economic data is also important.
📌 2 Other Important Data Points Released Alongside NFP:
1. Unemployment Rate: The percentage of people in America who are unemployed. 2. Average Hourly Earnings: How much the average hourly wages of employees have changed.
⚠️ NFP Trading Precautions:
• Avoid unnecessary entries before the news release. • Spreads may suddenly widen. • Slippage may occur. • Stop Loss orders may be executed at a different price than expected. • A fake breakout may occur on the first candle.
🎯 GOLDEN RULE:
Do not trade NFP news based on predictions alone. Wait for the market reaction, price action, and confirmation.
According to CoinGlass, in the past 24 hours, 113,298 traders liquidated. Total liquidations were $857.27M. The largest observed liquidation order was on HTX - ETH-USDT, valued at $38.00M.
🇺🇸🇮🇷 The US and Iran are expected to respond to a new peace proposal within the next 36 hours as Qatar steps up mediation efforts to push negotiations forward.
🇺🇸 US midterms have historically been bullish for Bitcoin over the following 12 months.
BTC returns after the last three midterms:
- 2014: +24.5% - 2018: +44.9% - 2022: +92.3%
This election could also shape crypto regulation. A Democratic win may reduce the chances of the CLARITY Act passing, while rising tensions with Iran could push oil prices and inflation higher.
Short-term uncertainty may create volatility, but once things settle, liquidity could rotate back into crypto.