2024.10.30 8:22 AM BTC Market Analysis
Last night BTC peaked at 73660, failing to break the historical high of 73881, 2.2 billion CNY evaporated, and 55507 people went bankrupt to zero. This wave truly belongs to the frenzy of Bitcoin, while most of the market's garbage is lingering at the bottom, hesitating and not moving forward!
For profitable positions, medium-term traders can appropriately reduce their positions in batches, there's no need to liquidate!
BTC Focus
Support: 69800-70000/67850/66550
No current resistance
Maintain consolidation above 69800-70000, no need for a strong rush, that would be best for the market; the resistance level of 73500 has been touched once, at this moment do not provide any resistance level, it is better to wait for right-side signals and avoid continuously shorting on the left side!
The higher it rises, the more fear of heights there is; at this moment, aside from short-term players, most medium to long-term players should still be mostly observers!
Currently, BTC is fragmented for the market; only the main force driving this wave knows what their true intentions are?
Those in cash can do dollar-cost averaging, open grids, and look for wave opportunities in tokens with stagnating growth; blindly buying is not advisable!
