Tonight's Strategy

On Wednesday, after experiencing a surge, who would have thought the drop would come so quickly? Just the day before, we were celebrating Bitcoin's breakthrough of $100,000, but then the US stock market fell, causing Bitcoin to drop straight from $102,800, ultimately failing to hold above the $100,000 mark and currently finding temporary support around $94,500. Ethereum also quickly fell from a high of $3,740, dropping below $3,550, and is currently stabilizing around $3,300 for support. Altcoins generally saw declines of over 10%, with some altcoins dropping back to last month's lows or even setting new lows.

The market reflects the emotions of buying and selling; regardless of whether it’s market makers, large institutions, or individual investors, everyone receives various pieces of information from the market every day, especially focused on US information. Currently, there is still about half a month until the election power transition, and speculation has not yet begun. Therefore, the macro information is what can influence market sentiment.

Now, as the time for Trump’s return to power approaches, it is expected that before the favorable news lands, there will still be a wave of upward movement. Bitcoin is anticipated to test the $103,000 area, while Ethereum needs to lower expectations a bit, as this recent downward trend has indeed looked somewhat poor, and for now, we can expect to see around $3,800.

For short-term trading, with the larger direction established, just plan your trades according to the signals.

BTC Short-term: Long at $94,500, target $96,000 - $97,000

ETH Short-term: Long at $3,300, target $3,500