【Bitcoin Market Analysis 2024.10.29】🚀

Currently, the price of Bitcoin has successfully broken through $71,000, and previously held long positions continue to profit. The short positions used for hedging have successfully taken profit around $66,500. The continuous inflow of funds into Bitcoin ETFs for about 20 days, along with the upcoming U.S. elections, has further strengthened the market's bullish sentiment. Therefore, I believe Bitcoin still has room for further increases in the short term.

In this round of rising market, many investors failed to enter the market in time, and missing out has become relatively common.

Based on the current strong bullish atmosphere, it is advisable to be cautious when shorting, and even hedging strategies must strictly set stop-loss levels.

In terms of short-term strategies, pay attention to the resistance levels during the market's rise, treat shorting operations with caution, and patiently wait for clearer market signals.