#BTC 11.2 Market Analysis
After the release of non-agricultural data, with the help of false breakthroughs and data-induced bullishness, it rushed to 71,600 and then quickly fell back to test the support of 68,800. Because of the low trading volume over the weekend, there was not much fluctuation. ETH followed the trend of BTC and was much weaker, directly falling below 2,500
At present, the rebound of Bitcoin is not strong, indicating that 68,800 is not the bottom, but it is supported by buying. These declines are all caused by volume declines. It can also be judged from the on-chain data that it is caused by the shipment of institutional whales that entered the market at 65,000-68,000. The liquidation chart shows that the two important positions in the current liquidation area are 68,860 and 704 20, if the fluctuation is not big, just focus on these two positions
At the same time, the US election has entered the countdown in the past few days. At present, the two are 55-50. Don't have too much expectations. Be careful of the risk of hyping recession expectations at any time. Even if Trump is elected, it will be a good thing. Haha Sister's taking office will also have an impact on the currency circle. It's just a matter of one falling deeper and the other falling shallower, but the bull trend has not changed
The recommended intraday position is the support level of 68800-69000, and the pressure level is 70400-70700 for shorting