11.05 Initial battle awaits the election, Bitcoin has bottomed out, continue to wait

       Focusing on the election, Bitcoin has now bottomed out, just waiting for another test.

Bitcoin has reached a historic high against BlackRock's U.S. Treasury ETF. Last week, as BTC approached the historical high of over $73,000 set in March, its trading price reached 800 times the value of BlackRock iShares 20+ Year Treasury Bond ETF (TLT). This figure is higher than the 466 times seen when BTC last peaked in November 2021. 

    The memecoin trading platform Hype, based on Solana and Base, has launched the "President Memecoin Index," allowing traders to track and trade tokens related to the upcoming U.S. election.

BTC Daily - 4-Hour Level Market Analysis

     The larger market continues to exert downward pressure, and after failing to break through yesterday, it continued to drop to around 667, nearing the target. Therefore, today's intraday pressure remains around 69,500; if it breaks above, there is still potential to play. If it doesn't break, just look for a retest after the near long position, the technical aspect is near the bottom, but it's still better to wait a bit.

BTC + ETH Intraday Level Analysis

      After the Bitcoin bottom appears in the intraday market, it surged up, and we immediately arrived at the pressure position around 69,500, expecting a target in the range of 69,500-70,000, waiting for a retest to go long. Now the shorts have temporarily stopped; the first long position has played out successfully. Next, after the retest near 68,200, we can consider a long position. If it breaks above 69,500, it is expected to reach around 70,300, but currently, the market is heavily influenced by events, so let's wait.

     The spot market has endured the toughest times; now is the season for harvest or re-cultivation. I hope everyone treats themselves well and does not waste two years of hard work. #美联储利率决议来袭 #美国大选后涨或跌？