$BTC has closed lower three days in a row, and now it's leaning on Friday's low.
Daily closes:
- Wednesday: 84,093
- Thursday: 81,416
- Friday: 81,189
- At writing: 80,889
Yesterday I asked if BTC tests 79,800 before 84,352. Not yet. Friday's low was 80,513, still 713 points above the floor.
The lines now:
- 80,513: Friday's low. Lose it and 79,800 is next
- 79,800: the Oct 15 low, bottom of the range
- 82,061: Friday's high, first cap on a bounce
- 83,028: a daily close above it turns the short-term picture back up
Funding is 0.0056%. Longs aren't paying up, so this isn't a crowded long getting flushed. It's a slow bleed on light weekend volume.
NFA. Does BTC hold 80,513 into the Sunday close, or tag 79,800 first?
Daily closes:
- Wednesday: 84,093
- Thursday: 81,416
- Friday: 81,189
- At writing: 80,889
Yesterday I asked if BTC tests 79,800 before 84,352. Not yet. Friday's low was 80,513, still 713 points above the floor.
The lines now:
- 80,513: Friday's low. Lose it and 79,800 is next
- 79,800: the Oct 15 low, bottom of the range
- 82,061: Friday's high, first cap on a bounce
- 83,028: a daily close above it turns the short-term picture back up
Funding is 0.0056%. Longs aren't paying up, so this isn't a crowded long getting flushed. It's a slow bleed on light weekend volume.
NFA. Does BTC hold 80,513 into the Sunday close, or tag 79,800 first?