$BTC Rejected at $80K Again What Next 6 Nov
Honestly yesterday was brutal
BTC pumped to $80,835 after election everyone thought bull run is back... then boom dumped straight to $75,208 in one day. Nasdaq fell 5.52% yesterday S&P fell 4.36% This was not a normal dip bro
Right now BTC is around $76,100 - $76,200. Market is standing on a very thin line
What I am seeing
$80K - $82K is now a brick wall. BTC tried 2 times to break it and failed both times. That zone used to be support, now it flipped to resistance.
$75,500 - $76,400 is the last support. Price is sitting right on it. First support $75,500, if this breaks, next is $74,400, then $73,200 - that is 200-day MA. No joke $
RSI is 38.4 - 39.0 on daily. Still weak, but not oversold yet. Price is below 20-day MA $80,300 and 50-day MA $82,000. So sellers are still in control
ETF story also changed. After 3 days of $1.16B outflow, Nov 4 saw +$74.6M inflow. But Nov 5 again -$68.8M outflow. Institutions are still confused.
Today US Jobs Report (NFP) is coming. Forecast +65K jobs, unemployment 4.2%. This one report will decide up or down today.
My plan for today - 6 Nov:
If $75,500 holds:
I will look for a bounce.
Entry: $76,100 - $76,400
Target 1: $78,000
Target 2: $80,300
SL: $74,900
If $75,500 breaks:
I am NOT buying. I will wait.
Wait zone: $73,200 - $72,500
Down target: $73,000
Why I am not buying blindly? Because longs are still trapped up there. Funding is neutral, means no one is scared enough yet
So my bias is simple - neutral to bearish until BTC takes back $78,500. Today patience is the real trade.
What do you think guys? Will $75.5K hold today or break after NFP?
This is not financial advice, just sharing my own view. Do your own research before trading
#Bitcoin #Binanc #Crypot
Honestly yesterday was brutal
BTC pumped to $80,835 after election everyone thought bull run is back... then boom dumped straight to $75,208 in one day. Nasdaq fell 5.52% yesterday S&P fell 4.36% This was not a normal dip bro
Right now BTC is around $76,100 - $76,200. Market is standing on a very thin line
What I am seeing
$80K - $82K is now a brick wall. BTC tried 2 times to break it and failed both times. That zone used to be support, now it flipped to resistance.
$75,500 - $76,400 is the last support. Price is sitting right on it. First support $75,500, if this breaks, next is $74,400, then $73,200 - that is 200-day MA. No joke $
RSI is 38.4 - 39.0 on daily. Still weak, but not oversold yet. Price is below 20-day MA $80,300 and 50-day MA $82,000. So sellers are still in control
ETF story also changed. After 3 days of $1.16B outflow, Nov 4 saw +$74.6M inflow. But Nov 5 again -$68.8M outflow. Institutions are still confused.
Today US Jobs Report (NFP) is coming. Forecast +65K jobs, unemployment 4.2%. This one report will decide up or down today.
My plan for today - 6 Nov:
If $75,500 holds:
I will look for a bounce.
Entry: $76,100 - $76,400
Target 1: $78,000
Target 2: $80,300
SL: $74,900
If $75,500 breaks:
I am NOT buying. I will wait.
Wait zone: $73,200 - $72,500
Down target: $73,000
Why I am not buying blindly? Because longs are still trapped up there. Funding is neutral, means no one is scared enough yet
So my bias is simple - neutral to bearish until BTC takes back $78,500. Today patience is the real trade.
What do you think guys? Will $75.5K hold today or break after NFP?
This is not financial advice, just sharing my own view. Do your own research before trading
#Bitcoin #Binanc #Crypot
