Market Analysis for November 2nd, the big coin is looking for a 1h level rebound in the short term, pay attention to the strength of the rebound.

Daily Share

Just yesterday, after the big coin retraced to 68830, we said that the short term would perform a 15-minute level rebound. Last night, the 15-minute level rebound surged to around 71632, and then the big coin's 15-minute level correction still fell back to around 68800. This indicates that the short-term 1h level is relatively complete. According to expectations, if it does not drop below 68500, then there is still a chance to push for a historical high point.

Currently expecting to perform a 1h level rebound, observe the strength of the rebound. If the strength is weak, it may consolidate around a 1h level center before choosing a direction.

BTC

Due to the rapid changes in the market, the article can only make predictions based on the market conditions at the moment of publication. Short-term players should pay attention to the latest changes in the market, and this is merely for reference.

1H:

At the 1h level, it tends to perform a 1h level rebound here, first looking to see if it reaches around 71500. After that, it may consolidate around a 1h level center and then choose a direction, whether to surge to 74000 again or to drop below 68500.

15M:

15-minute level, need to observe here for a short term, there may be a direct breakthrough to 70,000 for a 1h level rebound, as shown by the yellow arrow in the above image. Alternatively, it may again retrace to the 68800~69000 range, and then perform a 1h level rebound, as indicated by the green arrow in the above image.

ETH

Ethereum here at the 15-minute level may still retrace to around 2460, and it is expected that there should be a 1h level rebound tomorrow, to see if it reaches above 2600. It is expected that in the short term there may also be a consolidation around a center, still with a probability to push for another 2800.

Trend Direction

Weekly level: Direction is up, currently performing a new weekly level increase, with an overall target of looking at 100,000+.

Daily level: Direction is up, it may reach around 75000.

4-hour level: Direction is up, it should still be able to go to 74000 again, but if it drops below 68500, it’s hard to say.

1-hour level: Direction is up, there should be an opportunity for a 1h level rebound tomorrow.

15-minute level: Direction is down, continue to pay attention to 68500 below.