Bitcoin Market Analysis
Previously mentioned to pay attention to the position of 68500, breaking below will lead to continued decline. Over the weekend, it hovered around 67500, while the altcoins were particularly chatty. Overall, the market is still quite challenging, as it’s just a little short of breaking the historical high.
In the coming days, there will still be some fluctuations, especially with the election on the 5th and the monetary policy meeting on the 8th.
Currently, Bitcoin shows a slight rebound, but breaking through the previous high seems quite challenging. We can first focus on the range of 70000 to 71000. If the market is boosted by certain positive news, the price could potentially reach around 72000. However, the market may then turn to decline, and we need to observe whether the support level of 65000 can hold. If it breaks, the situation may not look optimistic.
Ethereum's trend appears to be weaker, currently only experiencing a slight rebound. We can lock its fluctuation range between 2550 and 2600, while closely monitoring the important support level of 2340 below.
