Evening Analysis and Trading Suggestions for October 28
The market opened with a rise at the beginning of the week, which is a very positive signal for a market that has been consolidating for two days. Tonight, the US stock market is about to open, and this week is also a data week. The inflation index PCE, which is favored by the Federal Reserve, the October non-farm payroll report, and the third-quarter earnings reports from Apple, Google, Microsoft, and Amazon will all influence the market direction at the start of November!
Currently, the 67000 watershed has been reclaimed and is now stabilizing as support. In the afternoon, Bitcoin reached a high of around 68800, and the upward trend of oscillation is very obvious. A strong upward move followed by a slight correction shows a clear upward wave pattern. What is frightening is not a slow and steady rise, but standing still and missing out, which is more uncomfortable than having a fishbone stuck in one’s throat. As a new week approaches, the US stock market is about to open; continue to go long and remain bullish.
Trading Suggestions
Go long Bitcoin around 68100-68400, targeting 69100-69600.
Go long Ethereum around 2510-2490, targeting 2550-2570.
