Good afternoon, brothers, a new week has begun. There are two important events this week: one is tomorrow's U.S. presidential election, and the other is the Federal Reserve's interest rate announcement early on the 8th. The entire market currently believes that Harris will take office, which will cause the price of Bitcoin to plunge, leading to a decline in the market over the past two days as it reacts in advance!
No matter who takes office, it will not stop the development of this industry; it will only temporarily affect the price trend of Bitcoin. I recommend that everyone watch more and act less before the election results come out. Try not to have a set position. This week could be turbulent; please be cautious with your trades!
Bitcoin's weekly chart from last week does not look very good. It was pushed up but did not break the previous high and was then smashed down, leaving a long upper shadow, which can be understood as false bullishness. The main funds have already started to withdraw and seek safety. The recent declines are due to small retail investors buying in. The price of Bitcoin can only be traded in short-term waves; the long-term value is really not high.
Today's market analysis:
$BTC Bitcoin, pay attention to the level of 68550 today. As long as it stays above this level, the 1/2 hour level will rise bullishly. The upper targets/resistance levels to note are near 69480-70300-70980! (If it stays above 69480, this wave's daily level correction will end.)
If it does not go up today and breaks below 68550, then the 1/2 hour level rise will fail, and it will continue to fall. The support levels to note are near 68055-67445-66630! #BTC trend analysis
$ETH Ethereum, after hitting the first support level at night, started a strong rebound and is currently surging towards the second resistance level. Pay attention to the level of 2461 today. As long as it stays above this level, the 1/2 hour level will strongly rebound. The upper targets/resistance levels to note are near 2495-2523-2555! (If it stays above 2523, the daily level will start to rebound.)
If it does not go up today and breaks below 2461, then the 1/2 hour level rebound will fail, and it will continue to fall. The support levels to note are near 2436-2412-2381! #ETH trend analysis
$SOL SOL started to rebound at night and is currently hitting the first resistance level nearby. Pay attention to the level of 162.3 today. As long as it stays above this level, the 1/2 hour level will strongly rebound. The upper targets/resistance levels to note are near 166.3-168.6-171! (If it stays above 168.6, this wave's daily level correction will end.)
If it does not go up today and breaks below 162.3, then the 1/2 hour level rebound will fail, and it will continue to fall. The support levels to note are near 158-154-150!
BNB started to rebound at night, currently hitting the first resistance level precisely. Pay attention to the level of 558 today. As long as it stays above this level, the 1/2 hour level will strongly rebound. The upper targets/resistance levels to note are near 564.7-570-576.5! (If it stays above 564.7, the 4-hour level will start to rebound.)
If it does not go up today and breaks below 558, then the 1/2 hour level rebound will fail, and it will continue to fall. The support levels to note are near 553.2-547-538! #BNB trend analysis
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