This week's summary:

27 October early thoughts
Bitcoin this week has seen both bullish and bearish movements, much like the tides washing away sand, eliminating a significant portion of retail investors; it truly is survival of the fittest. This morning, the market experienced a deep decline due to the impact of the conflict, but then returned to calm, presenting a sideways trend. It is expected that there won't be much fluctuation in the market going forward, and we will see how next week's market develops. From the weekly perspective, there has been intense competition between bulls and bears in the mid-range area, ultimately the bulls pushed up with a strong bullish candle, opening up the upper channel and creating a significant bullish pattern. However, this rise did not break through the previous high of 70000, and subsequently a bearish K-line retracement occurred, indicating signs of stagnation in the short term. But from a larger cycle perspective, the overall trend remains upward without strong reversal signals; the current brief pullback is merely a normal correction after the rise, thus the overall direction is still bullish. On the daily chart, the Bollinger Bands are moving upwards, the price has retraced after the previous highs, but it has little impact on the overall structure, with strong support in the mid-range area. The MACD indicator's volume is gradually weakening, and the KDJ three lines are diverging downwards, indicating a need for a short-term pullback. Currently, on the daily level, support is at 65000, with resistance in the 70000 area; it is advisable to first observe the pullback situation and wait for support before going long.

Bitcoin: 66200-66700 buy. Target 67300-67800
Ethereum: 2420-2460 buy. Target 2510-2550
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