Crypto Daddy
Bitcoin Price Analysis: Bitcoin has broken below our major $71,400 support level, exactly as we discussed in our previous market analysis. Now, all eyes are on the next potential support zones at $66,300 and $63,800.
This is exactly why I always focus on levels rather than headlines.
We don’t chase the market. We prepare for it.
Bitcoin: The Next Two Levels That Matter
Looking at my BTC 4H chart, the market structure remains bearish.
The previous support around $71,400 failed, and Bitcoin accelerated lower.
Now I am watching two important areas:
- $66,300 – First potential bounce zone.
- $63,800 – Next major area of interest if selling pressure continues.
These are not guaranteed bottoms. They are levels where I will pay close attention to price action and look for confirmation.
If Bitcoin reacts positively around $66,300, we could see a relief bounce.
If that level fails, $63,800 becomes the next area I want to watch.
I am not interested in predicting an exact bottom. I want to see how the market reacts when it reaches these levels.
Ethereum Is Approaching Our Buy Zone Too
Ethereum is following a similar structure.
I previously highlighted $1,844 as an important potential buy zone.
ETH is now trading around $1,890, getting closer to that area.
My plan remains unchanged:
- Watch the reaction around $1,844.
- Wait for confirmation before considering a swing-long opportunity.
- Avoid entering simply because the price looks cheap.
Patience is more important than trying to catch every small move.
The Liquidity Problem: $14.2 Billion Has Left Stablecoins
There is another development worth watching.
According to Glassnode data reported by The Block, the supply of major stablecoins contracted by approximately $14.2 billion over the past 30 days.
This is significant because stablecoins represent an important source of available liquidity in the crypto ecosystem.
When stablecoin supply contracts, it can indicate that capital is leaving the crypto market rather than waiting on the sidelines for new opportunities.
This does not mean Bitcoin cannot bounce.
However, it does mean we should be careful about expecting an immediate, sustainable recovery without signs of fresh liquidity returning.
What Is Happening in the United States?
Another unusual development has captured attention.
On November 13, the FAA issued a nationwide ground stop following a communications failure affecting air traffic control systems.
Although flights gradually resumed, the disruption caused thousands of cancellations and continued into Saturday.
This is primarily an aviation infrastructure incident, not a confirmed direct cause of Bitcoin’s decline.
However, unexpected developments like this can add to broader market uncertainty and investor nervousness.
I would not use this headline to explain the entire crypto selloff.
The Bigger Picture: The Market Was Already Showing Weakness
What is important is that the technical warning came before many of these headlines.
We were already watching $71,400.
Bitcoin lost that level, and the downside scenario started playing out.
Meanwhile, the market is also dealing with:
- More than $1.6 billion in crypto liquidations during the reported 24-hour period.
- A stronger US dollar and rising expectations for Federal Reserve rate increases.
- Continued outflows from US spot Bitcoin ETFs.
These developments can accelerate selling pressure, but they do not replace technical analysis.
News can accelerate a move. It does not always determine where the market was already heading.
My Plan: Patience, Not Panic
I am not rushing into swing-long positions here.
The next levels are already marked:
BTC
- $66,300
- $63,800
ETH
- $1,844
I want to see confirmation, a reaction from these areas, and evidence that buyers are actually stepping in.
Until then, there is no reason to chase a trade.
The market will always offer another opportunity. Protecting capital during uncertain conditions is part of being a trader.
We warned about $71,400. The market broke it. Now we follow the next levels.
No FOMO. No FUD. No chasing.
Trust the lines. Level to level.
— Crypto Daddy 🐺
This article represents my personal market analysis and opinion, not financial advice. All levels are areas of interest, not guaranteed reversal points.
