$BTC Defies the Sell-Off — Can $75K Launch a Move Toward $80K?
Bitcoin experienced sharp volatility following the Fed’s rate decision and Kevin Warsh’s remarks, but unlike Gold and the S&P 500, BTC has so far managed to hold inside its Support Zone.
Now, $75,000 is the key battleground.
Nearly $1 billion in long positions could be liquidated around $74,860, while BTC is also trading near the Cumulative Long Liquidation Leverage at $73,800–$74,680.
Despite the macro pressure, Bitcoin’s technical structure remains interesting.
A valid Golden Cross between the 50 SMA (Daily) and 200 SMA (Daily) remains active, while the Elliott Wave structure of the past 12 days appears more corrective than impulsively bearish.
As long as BTC stays above $73,500, I expect another bullish attempt.
A break above the key $77,280 level could open the way toward $78,370, followed by the Cumulative Short Liquidation Leverage at $79,800–$80,700.
Trade Setup
First TP: $76,990
Second TP: $78,370
Third TP: $79,800–$80,700
Stop Loss: $73,500
Key Level: $77,280
New CME Gap: $79,110–$79,270
Which level will Bitcoin reach first?
🟢 $79,800
🔴 $73,500
Bitcoin experienced sharp volatility following the Fed’s rate decision and Kevin Warsh’s remarks, but unlike Gold and the S&P 500, BTC has so far managed to hold inside its Support Zone.
Now, $75,000 is the key battleground.
Nearly $1 billion in long positions could be liquidated around $74,860, while BTC is also trading near the Cumulative Long Liquidation Leverage at $73,800–$74,680.
Despite the macro pressure, Bitcoin’s technical structure remains interesting.
A valid Golden Cross between the 50 SMA (Daily) and 200 SMA (Daily) remains active, while the Elliott Wave structure of the past 12 days appears more corrective than impulsively bearish.
As long as BTC stays above $73,500, I expect another bullish attempt.
A break above the key $77,280 level could open the way toward $78,370, followed by the Cumulative Short Liquidation Leverage at $79,800–$80,700.
Trade Setup
First TP: $76,990
Second TP: $78,370
Third TP: $79,800–$80,700
Stop Loss: $73,500
Key Level: $77,280
New CME Gap: $79,110–$79,270
Which level will Bitcoin reach first?
🟢 $79,800
🔴 $73,500
