November 8th Midday Market Analysis:
Regarding the Election Views:
The election on the 6th is just the popular vote stage, similar to the preliminary rounds of a singing competition. The final outcome of the election will be determined by the Electoral College vote in December. The popular vote result is only a preliminary judgment, and the final presidential candidate will be decided by the Electoral College vote in December. Therefore, even if Trump gains a certain advantage in the popular vote, whether the real crisis is resolved will still depend on December. If Trump decides to transfer presidential power in January 2025, then until he officially enters the White House, market expectations will remain ungrounded.
November 8th Midday Market Views:
Bitcoin ($BTC):
Bitcoin has effectively pulled back to the support level of 75214; light positions can attempt small long positions, and stop loss if it falls below this level. Bitcoin has once again broken through its historical high; if 75214 breaks with volume and fails to recover on a rebound, then on the right side, one can attempt short positions, with stop loss when recovering on a rebound. Please pay attention to changes in trading volume.
Focus on the area around 76386 above; if a false breakout occurs, one can attempt light short positions. If it breaks through 76900, then stop loss is necessary. Currently, there are 2 pin-shaped candlesticks on the hourly level, a small engulfing pattern on the 4-hour level, and a doji on the daily level, indicating that there may be a pullback in the short term.
For conservative investors, one can wait for a pullback and gradually build small long positions in the range of 74453-73479, with stop loss if it falls below this range. The support levels below are 74526, 73642, and 72757. It is expected that many investors will miss this wave of increase or feel panic, so there might be opportunities to take over during the pullback.
Ethereum ($ETH):
Consider small long positions when Ethereum pulls back near 2852; stop loss if it falls below. If it breaks through 2928 with volume, one can lightly pursue long positions; if it fails to break through, stop loss when it recovers. If it breaks down with volume near 2852, consider pursuing short positions on the right side, but be sure to stop loss in time.
The pressure level above is around 3022; if it breaks through, consider light short positions, and stop loss if it breaks and stabilizes. The support levels below are at 2863, 2824, and 2771. Currently, the Ethereum exchange rate is gradually rising, and the target of breaking 3000 is about to be achieved.
Summary:
The trends of the main market and altcoins are full of opportunities, but one should pay attention to position control and setting stop losses. There may be a certain pullback in the short term, so do not rush to chase high prices; wait for the appropriate entry timing.
