$BTC In Price Discovery Mode
2024-11-08

CRYPTOCAP:BTC  marked another all-time high at 76.8k

It was a significant day for  CRYPTOCAP:BTC  ETFs, with record-breaking net inflows. BlackRock saw its largest inflow ever, adding 14,588 #Bitcoin.

 CRYPTOCAP:BTC  is now in price discovery mode.

On the hourly timeframe, Bitcoin is currently stalling, waiting for the next move.

I've added EMAs to the chart for context

- If we test and hold the ema50, which sits around 75k to 74.6k, I'm expecting a move toward 79.8k to 81.5k zone.
- The ema200 at 72.4k could be a solid long entry if it holds.