Good morning! Last night, the three main indices of the US experienced different fluctuations, Bitcoin reached a high of 73650 USD, just one step away from hitting its peak; Ethereum reached a high of 2681 USD. Currently, there are only 7 days left until the US elections, and Trump's approval rating is rising. He has always shown friendliness towards the cryptocurrency industry and claims to be a crypto-friendly candidate, therefore, with his increasing approval rating, it has boosted the price of Bitcoin and other cryptocurrencies. On the other hand, over the past two weeks, approximately 3.8 billion USD has flowed into the Bitcoin spot ETF fund, with more than 479 million USD alone flowing into these investment products on October 29. The increasing trend of capital flowing into the Bitcoin spot ETF indicates that demand has surged strongly in the past 15 days, which is also the main reason for the recent price increase of Bitcoin.

The cryptocurrency market has recently been described as "a frenzy of rising chickens and chaotic dances of demons". In this crazy price surge, some coins have quietly waited and suddenly emerged, showing a large leap gap. For altcoins that have risen too much, it is necessary to implement a partial profit-taking strategy or withdraw the initial capital. Here, I want to remind you that coins should be chosen when the market undergoes significant corrections, when others are cutting losses, to participate at a low price. Currently, some coins have doubled, many altcoins are suitable for wave trading, and after taking profits, there are still opportunities to re-enter, such as DOGE, SHIB, SOL, SUI, etc. In the cryptocurrency market, if you cannot participate at a low price and do not know how to take profits, being too greedy is just playing a number game. Only pocketing profits is the true victory. So, what is faith? Achieving financial freedom is the true faith.

After testing the level of 65000 on the 24th and 26th, Bitcoin has started a strong price surge without any significant corrections, the trend is very strong. Bitcoin is about to break its historical peak, after climbing to 73650 USD early this morning and making a slight correction for accumulation, today’s new peak will not encounter major obstacles. Currently, the market price is showing a rising accumulation pattern, gradually turning around. Each increase is accompanied by small corrections, we can take advantage of each correction to participate in the upward trend. Corrections are opportunities to buy. Currently, the recovery force is gradually greater than the decrease, in a strong trend, the smaller the decline, the greater the increase and opportunity.

Ethereum has tested the highest level of 2681 USD. From a short-term perspective, when the downward movement channel releases space, the price stops and shows signs of recovery, the selling volume is gradually decreasing, the consistency of the moving averages has decreased and then turned to increase, currently, warming up has begun. In the four-hour time frame, the price did not immediately rise but dropped, currently testing the low support, the movement channel is narrowing again, the trading volume is frequently switching, the fluctuation range is again narrowing, the short-term state remains unchanged. In the short term, after the decline, the trend is difficult to extend.