The expectation of interest rate cut in November is not very obvious in the cryptocurrency circle. The negative non-agricultural data may lead to only a 25 basis point interest rate cut, which is actually negative for the cryptocurrency circle.
On-chain data has also been continuously flowing out of the exchange recently. The specific trend direction still needs to wait until the holiday is over and the return peak is determined.
The news that needs to be paid attention to is whether Israel will continue to make trouble. If it does not fight, it is good news, and if it fights, it is bad news. There will be CPI data on Thursday this week, which will also have an impact on subsequent interest rate cuts.
The technical aspects are all centered on the support and resistance conversion during the interest rate cut period. Whether it is rising or under pressure, resistance must be tested. The daily line is a 30-day moving average oscillation with an upward turning trend.
The positive line covers the two cross stars, and the 4H level also has an upward breakthrough trend. It is bullish on the technical side. The intraday operation suggestions are:
Support level 61400-61200 range long
Pressure level 62600-62700 range short