#Bitcoin The current trend of Bitcoin is making many crypto friends puzzled. Should we continue to push up, or release the bullish profit-taking and fall back? Xunzhang mentioned in the analysis on the 29th that breaking the new high is almost inevitable, explaining the analysis basis, and then provided some operations after breaking the new high, suggesting that short-term spot enthusiasts exit before approaching the new high, while shorting Bitcoin contracts in the range of 73,800 to 75,000. However, at 3 AM on October 30, the price only reached a maximum of 73,620, falling just 160 points short of the new high of 73,777, triggering a rapid short-term decline, with a minimum at 71,436. The strategy profit was not effectively implemented, leading to considerable regret. Xunzhang is always in front of the computer monitoring the market and can answer questions for crypto friends at any time.
Currently, there are only five days left until the U.S. election results (November 5). According to market research data, Trump's chances of staying in power have significantly increased. If he successfully takes office, the entire market will welcome a long-term favorable cycle, and we will witness the miracle of Bitcoin exceeding 100,000 USD, making the market even more crazily enthusiastic.
Is the firmness of the current price also a disguised acknowledgment of its results? Regarding the upcoming trend, Xunzhang believes that a new high will still come, as the current price is 72,400, which is only a distance of just over 1,500 points from the new high, a 2% increase can achieve this. At the same time, the fact that such a high price can persist for dozens of hours has already given holders with selling demands enough time to escape. Since there has been no significant drop, it indicates that the selling pressure at this time is not large, but rather, there is an ongoing anticipation for further increases.
Xunzhang believes that in the next few days, everyone will likely see a movement towards a new high. However, at the same time, there is still a significant chance that the price will return below 7,000, which means there will be at least a 4,000 USD fluctuation difference. As for whether this process will trigger a new high before dropping below 7,000 or drop below 7,000 before triggering a new high, it is indeed difficult to predict. After all, the main operators are not following Xunzhang's orders. Based on personal subjective analysis, Xunzhang believes that the likelihood of breaking the new high first and then falling to below 7,000 is greater. If this happens, the market breaking the new high will trigger strong buying sentiment, making selling realizations able to achieve high prices with large transaction volumes while also liquidating bullish positions. After liquidating and resting, it will be easier to initiate a bullish market.
Of course, regarding how much higher the price can surge after reaching a new high before starting to fall back, it is quite difficult to predict. However, after the new high, all holders in the market are 100% profitable, and the higher it goes, the larger the selling volume. Since we are currently close to the new high, the short positions need to continue to raise prices. It is recommended to participate in the range of 75,000-76,000, with a stop loss at 77,000. For the short term, watch 72,500 and 71,000.
A must-read for crypto friends: The main operators have diverse manipulation methods, and ordinary participants can easily be confused, resulting in losses. Keep an eye on Xunzhang, who helps you stand at a high vantage point, pursuing wealth in the crypto circle with a professional perspective.$BTC 
