BTCUSDT: 76,980
My bias remains moderately bearish for the next 3–7 days, but support is still holding. That makes confirmation essential.
On the 4-hour chart, EMA10 remains below EMA55, while rising ADX and stronger negative directional movement support the bearish structure. The latest rebound shows buyers defending lower prices; it has yet to establish a sustained reversal.
Institutional demand is another headwind: spot Bitcoin ETFs recorded approximately $1.04 billion in net outflows over the last two sessions. Meanwhile, Binance open interest increased 5.16% in BTC terms over 24 hours as price declined. That indicates expanding exposure, but it does not prove that all new positions are shorts. More leverage can amplify a move in either direction.
The key support zone is 76,350–76,270. A breakdown followed by a failed reclaim would strengthen the case for 75,500. A sustained recovery above 77,800 would weaken the immediate bearish setup and require reassessment.
For the broader 1–4 week outlook, the bias remains neutral-to-bearish below 82,000 on a daily closing basis. Confidence is moderate: the daily structure is weak, but weekly signals remain mixed.
U.S. election headlines and the JOLTS release add volatility risk.
My approach: wait for 4-hour confirmation before considering a fresh short. Selling directly into defended support leaves substantial rebound risk. The levels define a conditional plan—not a guaranteed outcome. #bitcoin #altcoins #UsaElections
My bias remains moderately bearish for the next 3–7 days, but support is still holding. That makes confirmation essential.
On the 4-hour chart, EMA10 remains below EMA55, while rising ADX and stronger negative directional movement support the bearish structure. The latest rebound shows buyers defending lower prices; it has yet to establish a sustained reversal.
Institutional demand is another headwind: spot Bitcoin ETFs recorded approximately $1.04 billion in net outflows over the last two sessions. Meanwhile, Binance open interest increased 5.16% in BTC terms over 24 hours as price declined. That indicates expanding exposure, but it does not prove that all new positions are shorts. More leverage can amplify a move in either direction.
The key support zone is 76,350–76,270. A breakdown followed by a failed reclaim would strengthen the case for 75,500. A sustained recovery above 77,800 would weaken the immediate bearish setup and require reassessment.
For the broader 1–4 week outlook, the bias remains neutral-to-bearish below 82,000 on a daily closing basis. Confidence is moderate: the daily structure is weak, but weekly signals remain mixed.
U.S. election headlines and the JOLTS release add volatility risk.
My approach: wait for 4-hour confirmation before considering a fresh short. Selling directly into defended support leaves substantial rebound risk. The levels define a conditional plan—not a guaranteed outcome. #bitcoin #altcoins #UsaElections