The short-selling strategy for Bitcoin given at around 72300/72800 was successful, with the market dropping to around 70350 as expected in the early hours of today, successfully capturing nearly 2000 points space #下一BTC历史新高是多少？ #BTC $BTC

10.31 Bitcoin Afternoon Market Analysis
In the early morning and afternoon today, Bitcoin has been in a high-level consolidation phase. From a technical indicator perspective, it shows a tendency to consolidate instead of decline. Based on experience and technical indicators, this counter-trend sideways movement cannot last too long, especially since Bitcoin is currently in the fifth wave phase, and the previous third wave did not show a strong increase. Therefore, from the current perspective, the fifth wave is in a rapid peak stage, followed by a phase of technical adjustment.

From the daily technical indicators, today's Bitcoin daily line still has a significant gap with the MA5 moving average. The BOLL technical indicator currently shows the price is sticking to the upper band area. From the daily indicators, the upward space is still severely restricted. Additionally, from the Fibonacci golden ratio perspective, this round of decline only touched around 0.382, which indirectly indicates that this round of retracement has not completely ended. Therefore, the intraday strategy today still suggests focusing on shorting during rebounds, with the 0.618 position around 70476.

From the 4-hour technical indicators, Bitcoin and Ethereum are already in the TD8 phase, and the increase of the MA5 moving average shows a significant weakening. Therefore, if operating with a conservative approach, it is still recommended to focus on shorting during rebounds.

Bitcoin: 72300-72800 nearby range to short in portions Stop loss: 73400 Target: 71400-70600#BTC #ETH $ETH

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