$BTC Making a Comeback ... Bulls Trying to Regain Control
After dropping from 84,875 to 79,178, Bitcoin is back above 81,000.
Still facing resistance around 81,400 – 82,000.
If BTC breaks above 82,000, we could see another push towards 83,000 – 84,000.
But as long as 82,000 holds as resistance, another correction towards 80,000 is possible.
Bulls showing strength again, but breakout confirmation is still needed.
Trade carefully
Trade $BTC
{future}(BTCUSDT)
✨️ $ETH is up +3.21% from the Oct 24 low at $2,279.97, now trading at $2,353.10
If you had longed it at the Oct 24 11:00 AM ET low with $100k at 10x, you'd be up +$32,075 right now
Why it moved
This was a squeeze, not a chase. CoinStats data on Oct 28 showed $22.13 million in ETH liquidations over 24 hours, and $19.19 million of it, 86.7%, was shorts. Open interest barely moved, up 0.19% to about $30.07 billion, so bears were closing rather than new longs piling in.
That matters. Leverage is...
$XAU (Gold) Weekly outlook:
Weekly: trapped inside a wedge structure.
Daily: bearish.
Strong support at $3,980 is holding for now. The next lower level I see sits around $3,880.
Upper big resistance: $4,100 to $4,225. A clean break and push above $4,450 is needed for bulls to regain traction.
My take:
Bears remain in control under these levels and inside the wedge.
Lose these levels, and price might keep moving down toward $3,650 or even $3,500.
NFA
#GOLD #XAU