10.28 Evening Analysis and Trading Suggestions
The market opened higher at the beginning of the week, which is a very good signal for a market that has been consolidating for two days. Tonight, US stocks are about to open, and this week is also a data week, with the PCE inflation indicator favored by the Federal Reserve, the October non-farm payroll report, as well as the third-quarter earnings reports from Apple, Google, Microsoft, and Amazon, all of which will influence the market direction at the start of November!
Currently, the 67,000 watershed has been recovered and stabilized as support. In the afternoon, Bitcoin reached a high of around 68,800, and the upward trend is very obvious, with strong bullish momentum and slight corrections, clearly forming an upward wave pattern. What’s frightening is not a slow and steady rise, but standing still, which is more uncomfortable than having a fish bone stuck in your throat. A new week is about to start for US stocks, continue to go long and bullish.
Trading Suggestions
Buy Bitcoin around 68,100-68,400, target 69,100-69,600
Buy Ethereum around 2,510-2,490, target 2,550-2,570