Looking back at the market, last night's live broadcast has a replay where everything was explained clearly. Any cryptocurrency experiences significant rises and falls; BTC is close to 90,000, and the risk is increasing. The moment of the spike down had thousands of points with the lowest near 85,000, and in the early morning, there was another wave of rebound. The live broadcast clearly stated BTC's viewpoint; now that the price is high, fluctuations of several thousand points are normal. Ethereum reached a high near 3440 yesterday.
In the evening, the overall market synchronized with Bitcoin's retracement of over 200 dollars. For altcoins, we discussed the profit-taking target of WLD at the 2.6 position. Yesterday, it directly surged 40 points to a high of 2.8, and those who took the opportunity benefited. Greedy individuals wanting to take the last bite may only see profits evaporate, or if the market retraces, they could incur losses. The market sentiment has been quite euphoric these days; once Bitcoin starts to retrace from its high, the market sentiment will quickly turn sour. You need to understand the logic of trading.
Bitcoin's key support level this week is at 85000. For Ethereum, focus on the support level of 3200; as long as it does not break down, the market will continue to oscillate towards higher points. It is expected that around mid-November, Bitcoin will officially enter a retracement phase.
BTC is nearing the high of 90,000, and last night it experienced a spike downwards, with the lowest point around 85,000, before rebounding back to around 90,000. Clear out contracts at the peaks and troughs. Currently, Bitcoin is not being closely monitored as it is in a high-level oscillation phase; the focus should be on the 90,000 point in the short term.
ETH's early analysis yesterday mentioned the intraday support level at 3200, which was just touched for a rebound. There are signs of a retracement on the four-hour chart, with a key support level at 3200 and a spike down to 3150. If touched, it will quickly bounce back. The overall target for Ethereum has not yet been reached, and it will continue to rise. Watch the resistance level above at the 3370-3440 range; ETH needs to stabilize above 3370 to make a move towards 3500, which is close to the overall target.
