22:04 UTC
Downtrend, below both EMAs · RSI 35 · price 73,765.76
Lower highs and lower lows since the late-Sept 87.3K peak.
BTC has carved a lower-high sequence from the late-September 87.3K peak, with lower highs at 84.8K, 81.9K and 81.1K. Price sits below the ema20 at 77,614 and the ema50 at 78,985, and the ema50 has rolled over since mid-October. The hot October CPI (0.4% vs 0.3% m/m) extended the slide to a 72,630 swing low, which is below the 76,227 oct low that had held as a floor in August and October; RSI at 34.9 is weak but not oversold, and ATR near $2,290 is holding elevated.
Support: 72,630.01, 70,000.00, 69,520.44
Resistance: 76,227.05, 77,613.94, 78,984.66
What it said to watch
- Fed's Bowman/Paulson at 23:30 UTC tonight, Thursday's jobless claims (f/c 195K) and Williams could materially shift this read
- Daily close below the 72,630 swing low extends the lower-low chain toward the 70,000 psych level and the 69,520 aug pivot
- Reclaim of the 76,227 oct low and the ema20 would mark the first break in the lower-high sequence
- A close above the ema50 near 78,985, close to the 38.2% fib of the 87.3K–72.6K decline (~78.2K), and through the lower highs trendline would neutralise the downtrend read