10.11 Look at the bull market opening, PPI retracement continues on the bulls

Bitcoin has reached the target position and rebounded successfully. The bottom of this round of market is likely to appear here. Then, in the next market, we expect tonight's PPI to have an extreme pin and continue to plunge down to around 60,000. Then it is the last short struggle. It is still bullish. The retracement is bullish. This round of market looks at the bull market opening.

The probability of the Federal Reserve cutting 25 basis points by November is 86.9%, and the probability of maintaining the current interest rate unchanged is 13.1%. The probability of a cumulative interest rate cut of 50 basis points by December is 86.2%, and the probability of a cumulative interest rate cut of 75 basis points is 0%; the probability of a cumulative interest rate cut of 100 basis points is 0%.

Daily level market

Daily level: The daily level market changes downward at night, with the maximum pressure above around 63,000, and the recent pressure around 61,800. If it falls again during the day, the support of 59,800 can continue to get on the train, and the lowest bottom support is around 59,000.

4-hour level market

4-hour level: The 4-hour level is still in a downward trend, but after the bottoming out, 61300 is now a relatively important pressure position, and then it will be around 61800, and it will be bullish when it falls back to around 59800.

Intraday level analysis

 Bitcoin is mainly bullish at the intraday level. In the afternoon and evening, pay attention to whether it will be a pin of 60,000. If it is a pin, then enter the market directly with a long trend. The upper pressure is around 61300 and the bottom support is around 60400. It is recommended to see more stops at 60400 support, and then enter the market with longs around 59500.

The spot market has survived the most difficult time, and now is the season for harvesting or re-cultivating. I hope everyone will treat themselves well and make the two years of hard work worthwhile.

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