Currently, BTC is in a 3-hour adjustment cycle within the 4-hour level, with the main support level in the 65500-65350 area. It is expected that BTC may experience an 8- to 12-hour level adjustment at the end of the month to the beginning of next month, and the short-term support level is 64565-64165.
In addition, 62350-62025 is the strongest support area in the near future. As long as the price does not fall below 62350, the upward structure will remain unchanged and the short trend will not form. At present, most traders expect a 50 basis point rate cut in November.
On the daily chart, the maximum resistance level faced by BTC is 67700, which is still one or two thousand points away from the current price. In addition, the upward momentum at the 2- and 3-day line levels is still strong and is expected to continue to break upward. In the short term, low-multiple is the main, and high-short is the auxiliary.
