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This morning, I looked at the BTC chart and it reminded me of waiting for the last train at Shinjuku. Below, the 200-day moving average hovers around $76,400–76,600, and price has been drifting just above it after touching a low of $76,368 overnight. What caught my attention more than the price, though, was sentiment. The fear & greed index dropped from 51 to 29 in a single day—shifting from neutral to fear after just one red candle. In just 24 hours, $1.57 billion in futures positions were liquidated, with $522 million in BTC and $361 million in ETH. What’s strange is that price didn’t drop further. BTC remains around $77,300, BNB has recovered to around $704, and SOL is holding near $96. It’s as if the panic sellers have all exited, leaving only those watching the last line on the chart. I won’t guess whether this line will hold or break. If it holds, this will become the most-told story of November. If it breaks, the next level everyone’s talking about is around $73,000. Which side are you on—the ones believing the 200-day MA holds, or the ones waiting to buy even lower?

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