Lennaert Snyder|11月 06, 2026 09:25
BTC lost the 76.2K PML as markets experienced a big selloff.
The stock marked plunged, and Bitcoin logically followed with a correction to 75.2K.
We're currently trading below the 76.2K PML, and you can see it's being used as resistance on price.
After a dump like this, it's important to stay focused and 100% objectified.
OI shows lots of shorts entered within the dump, so lots of fomo/chasing-shorts are pulled into the market.
If price manages to shift locally, positioning long to squeeze some of those shorts would be very nice.
If we keep rejecting the PML and NFP sells off, it's a matter of waiting until the market finds a local bottom for longs after the trigger.
I'm not shorting here, and for continuation shorts I need quality retests higher in the current range, or after a new dump creates a new range.
The red boxes as plotted in the chart are targets for potential longs, both could function as resistance.
Best case for the longs we take the 74.9K September low before catching a relief bounce.
Local PA is pre-NFP chop, not participating until after the release.
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