Bitcoin's movement yesterday showed signs of upward weakness, with both bulls and bears in a stalemate, and the market is in a wide range of fluctuations. The day's range has not only compressed but also moved downwards; however, the key support line at 71300 has not been broken, and the overall situation remains volatile.

II. Key Area Analysis
H1 Level Demand Zone:
Still pay attention to the buying opportunity in the 71300 - 70800 area. If the price breaks below this area, then stop-loss must be triggered, and wait for the next opportunity.

Daily Demand Zone:
If Bitcoin falls further, then focus on the buying opportunity in the 67500 - 65300 area. This is a potential daily demand zone.

Upper Resistance:
In the short term, the upper resistance is at the 72900 level. If this resistance is broken, then we can look towards the 74500 - 75000 area.

III. Technical Indicator Analysis
Daily Level:
There is a high possibility of a bearish candle closing today, but the support below has not been broken, and support has already moved up to the 61300 level. If this area is not breached during the pullback, there is potential for a subsequent reversal and upward attack.

Short Cycle Hourly Chart:
The price is being pressured at the high of 72900, showing a slight pullback, but it is still operating in the upper mid-band area of the Bollinger Bands. The upper band gap is slightly open, while the support below is slowly moving up.
As long as the price does not break below the mid-band, the subsequent trend is likely to test further upward. If it breaks below, the price will retreat to the support level of 70000.

MACD and EMA:
In the hourly chart, MACD continues to gain volume below the 0 axis, and DIF and DEA are converging, showing a trend towards a golden cross. If a golden cross forms, it could drive the price upwards.
EMA60 and MA60 overlap to form support and are moving upward, approaching the lower band position. If they coincide with the lower band, it may form strong support.

4 Hour Chart:
The Bollinger Bands are converging, with the upper band pointing down. Currently, the k-line has pulled back after touching the upper band, and the MA15 and lower band form overlapping support below. MACD continues to shrink above the 0 axis, and DIF and DEA are still converging; we will see if a death cross forms. However, there is a high probability of change, with the fast line possibly continuing to diverge from the slow line.

IV. Trading Suggestions
Focus on Long Positions, Supplement with Short Positions:
The overall trend is leaning towards upward movement, so it is recommended to mainly focus on long positions, with short positions as a supplement.

Light Long Positions on Pullbacks:
If the price pulls back to a low level, such as 70000 or lower (like the 67500 - 65300 area), consider entering long positions with light positions.

Follow Up on Breakouts:
If the price breaks through the resistance above the new high, consider following up to capture short-term profits.

Short Position Strategy:
After a breakout and piercing spike occurs at a high level, then consider arranging to enter short positions; specific operations should be based on real-time strategy notifications.

V. Risk Warning
The general election is approaching, and the market may be affected by some uncertain factors, so everyone must remain vigilant and respond flexibly. When operating, be sure to set stop-loss points and control risks.

In summary, the Bitcoin market on October 31 is primarily characterized by fluctuations, but overall it leans towards upward movement. In terms of operations, it is recommended to focus on long positions, entering lightly during pullbacks at low levels, and following up for short-term profits after a breakout at high levels. At the same time, closely monitor market dynamics and real-time strategy notifications to flexibly respond to market changes.


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