🚨 BITCOIN UNDER PRESSURE — IS ANOTHER BIG DROP COMING?
Bitcoin failed to hold the $82,000 daily MA 50 and has now fallen below $77,000. The sell-off is getting serious, with over $1.3 billion in long positions wiped out in just 24 hours.
And the pressure isn't coming from crypto alone.
Oil is trading above $100, big tech earnings have disappointed, and risk assets across the market are taking a hit. The Binance hack has added even more fear to an already weak market.
Here are the two key levels I'm watching closely:
1. $75,800 — Weekly MA 50
2. $73,150 — Daily MA 200
I believe Bitcoin could test these levels before we see a meaningful recovery. If buyers fail to defend them, the downside could get even worse.
But remember, heavy selling can also create opportunities for those who are patient.
Missed the July move? This could be another chance to find a good entry, but don't rush in without confirmation.
The next major event is the November 3 U.S. midterm elections, with prediction markets pointing to lower odds for Republicans.
The next few days could be crucial for Bitcoin. Will the bulls defend support, or are we heading toward another leg down?
Bitcoin failed to hold the $82,000 daily MA 50 and has now fallen below $77,000. The sell-off is getting serious, with over $1.3 billion in long positions wiped out in just 24 hours.
And the pressure isn't coming from crypto alone.
Oil is trading above $100, big tech earnings have disappointed, and risk assets across the market are taking a hit. The Binance hack has added even more fear to an already weak market.
Here are the two key levels I'm watching closely:
1. $75,800 — Weekly MA 50
2. $73,150 — Daily MA 200
I believe Bitcoin could test these levels before we see a meaningful recovery. If buyers fail to defend them, the downside could get even worse.
But remember, heavy selling can also create opportunities for those who are patient.
Missed the July move? This could be another chance to find a good entry, but don't rush in without confirmation.
The next major event is the November 3 U.S. midterm elections, with prediction markets pointing to lower odds for Republicans.
The next few days could be crucial for Bitcoin. Will the bulls defend support, or are we heading toward another leg down?
