Market Analysis on November 2, 2024
Bitcoin Daily
Resistance around 70500
Support around 68500
Yesterday, Bitcoin had a significant surge at 8 PM, reaching a peak around 71600, likely due to market news. Prices rose quickly and fell even faster. As I've emphasized repeatedly, there will be considerable fluctuations before the elections. If you have profits, do not be greedy; it is essential to secure your gains. Yesterday, we provided a resistance level around 71000, and shorting near that resistance was still profitable. Congratulations to those who followed along yesterday. Today, the weekend market may not fluctuate much, so everyone should take a good rest and not trade today. If it retraces to around 68500, it could be a good opportunity for long positions! Wishing everyone a pleasant weekend [fist bump][fist bump][fist bump]
Ethereum Daily
Resistance around 2550
Support around 2450
Ethereum bounced back to a peak of around 2586 yesterday. The resistance level we provided was around 2560, and those who shorted near that resistance made decent profits. Today, the weekend market may not see much fluctuation, so everyone should take a good rest and can choose not to trade today. It is still advisable to keep a long position in Ethereum, as there is a high chance of a golden cross forming within the next two weeks. I remain optimistic about Ethereum seeing a significant surge in the future. My trading strategy is to buy low. Wishing everyone a pleasant weekend [fist bump][fist bump][fist bump]
The above information is for reference only and should not be considered as investment advice.