November starts with a clear question after a red October. 📰
21Shares reported on 3 November that Bitcoin fell 7.3 percent in October to about 77,500 dollars, after a 6.3 billion dollar Binance hack pushed it to a low near 76,200 dollars, and it now watches support at 77,000 to 78,000 dollars, then 75,800 to 76,200 dollars, with the 200 day average near 73,000 dollars and overhead at 80,000 and 81,000 to 82,000 dollars. 📉 My reading is that the November story is recovery, not celebration, because the same report notes November has a median Bitcoin gain of about 10.3 percent since 2010, and past performance is not a reliable guide. Price must first hold 77,000, then prove it can take 80,000, before any seasonal story means anything.
Does November repeat its usual strength, or does the hack week damage take longer to repair? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketOutlook
21Shares reported on 3 November that Bitcoin fell 7.3 percent in October to about 77,500 dollars, after a 6.3 billion dollar Binance hack pushed it to a low near 76,200 dollars, and it now watches support at 77,000 to 78,000 dollars, then 75,800 to 76,200 dollars, with the 200 day average near 73,000 dollars and overhead at 80,000 and 81,000 to 82,000 dollars. 📉 My reading is that the November story is recovery, not celebration, because the same report notes November has a median Bitcoin gain of about 10.3 percent since 2010, and past performance is not a reliable guide. Price must first hold 77,000, then prove it can take 80,000, before any seasonal story means anything.
Does November repeat its usual strength, or does the hack week damage take longer to repair? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketOutlook
