November 10, Tuesday morning market overview: BTC consolidates near the lows at 75K

BTC formed a bullish hammer with a long lower shadow this morning and continues to consolidate around 75K

U.S. stocks opened higher and continued to climb last night. As of today's close, the Nasdaq was up 2.74%, the Dow Jones up 2.15%, and the S&P 500 up 2.35%; only Nvidia fell. South Korean stocks also triggered an upside circuit breaker, with SK Hynix and Samsung both rising more than 5%

After testing the 7.37 support for a second time, BTC rebounded rapidly, touched the 7.55 resistance, and pulled back again. It is now consolidating around 7.5

BTC rebounded after bottoming at 7.37 and rose on declining volume, with a divergence between price and volume and momentum failing to keep up. BTC may retest the area around 7.37

Repeated tests of 7.55 have failed to produce a valid breakout, indicating heavy selling pressure here. Long positions closing, spot selling, and options-expiry selling have all created tangible selling pressure, while perpetual contracts have generated effective consensus selling. This also aligns with what I’ve said over the past two days: only after breaking above 7.65 and holding there can we determine whether BTC’s rebound bullish momentum will continue

For the day, BTC is ranging within the narrow 7.55–7.37 band. Consider opening a small long position around 7.4, with a stop at 7.3 and a target of exiting near 7.55; don’t blindly chase longs or open shorts. Start small and use low leverage

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