The most difficult night to predict is the non-farm night, will it be a V-shaped rise or a fall?
BTC analysis:
Upper pressure: 70800 ~ 71400
Lower support: First support 69100 ~ 68800,
Second support 68000 ~ 67600
【Fundamentals】
1. Four days later on November 5th, the US election will be held, six days later on November 7th, the Federal Reserve’s November resolution will be held, and tonight on November 1st, the US Department of Labor will release the US October non-farm employment data.
Tonight’s non-farm report may be the most unpredictable this year. On the one hand, the two hurricanes since late September may cause serious interference to economic indicators. On the other hand, at the last moment of the presidential campaign, the report may easily be suspected by the outside world of being used for political manipulation.
Different investment banks have made very different forecasts for tonight's non-agricultural data. The median estimate is about 113,000 people, the highest forecast is 180,000 people, and the lowest is a shocking -10,000 people.
2. Yesterday (October 31), the US Pie ETF had a net inflow for the seventh consecutive day, but the amount dropped sharply to 31.3 million US dollars, and the aunt had a net inflow for the third consecutive day, with the amount increasing to 13 million US dollars. Under the situation of continued net inflow of ETFs, $BTC broke down, mainly due to the influence of macro uncertainty and unfavorable economic data. The disk has not changed fundamentally, waiting for the election results.
Tonight's non-agricultural data is on Friday again, and there may be large fluctuations. 🈴 Forex players need to guard against the risk of up and down pins.
[Technical side] BTC daily level moving average still maintains a long arrangement, MACD column line top divergence, and may form a dead cross, which requires a certain amount of time to repair. Currently supported by the rising trend line and the last round of bull top 69000 area. There is a high probability that the market will maintain a wide range of consolidation before the election.
[Suggestion] Wait patiently for non-agricultural data, focus on short-term operations, stop profits in time, and strictly stop losses.
