November 8 BTC Market Analysis: $BTC

Review of the Previous Day:

In the past two days, we have mentioned that the short-term rebound is still ongoing. As long as the price remains above 70,000 USD, the BTC market will continue to maintain an upward trend. If the 73,000 USD resistance level is broken with significant volume, the long-term outlook will be bullish.

Yesterday, after Trump confirmed his victory, BTC experienced a significant surge in both directions, reaching a peak increase of over 76,800 USD. From a technical perspective, due to the large increase over the past two days, there is a need for short-term consolidation. The past two days have mainly been characterized by fluctuations, with operations focused on selling high and buying low.

Upper Resistance Level: Around 76,900 USD

Lower Support Level: Around 73,000 USD