Tonight at 4 AM, there are still two 15-minute small-level lines left uncompleted,
Bitcoin accelerated to touch 70000 but failed, hitting around 69960. The bulls are strong tonight! The gradual rise is indeed a real increase, continuing my bullish view at a larger level from last week. I believed Bitcoin definitely had to touch 70000, but that doesn't mean it can effectively stabilize and reach even higher! Currently in a pullback! It has reached around 69631! There may be a continuation of bullish sentiment above 70,000 for a short while, but in the last few days, if you can stay still, then just stay still! The turning point can happen in an instant!
The reasons need not be elaborated, as there are several objective factors supporting the fundamentals:
a. Halloween on the 31st is coming soon, with the usual last day of the month experiencing significant volatility and enormous trading volume, high-frequency trading days!
b. Japan's interest rate hike drama!
c. The US election on November 5, can Trump achieve what he desires?
By analyzing these three time points carefully, it becomes clear that the trend should not be a direct upward movement without coming down, or a continuous upward exploration without a head! There must be a pullback or even a significant daily level correction! This is necessary to provide upward momentum and energy for the estimated bull market in the last two months of this year!
I ask everyone, whether retail investors or capital majors, under what conditions would new funds want to enter the market?
1. Cheap (capital)
2. Breaking previous highs, with potential, the bulls are coming (retail investors)
The main players care about what retail investors think, while retail investors don’t care about what the main players do!
No breaking, no establishing! How to continue pulling without adjustments? What is the significance of the pull?
I believe the above two factors are of reference value!
Currently, looking at it temporarily,
Upper pressure at 70000
Lower support at 68000
So my deduction is that after touching 70,000 tonight, a pullback trend will likely emerge, with a significant retreat likely on the 31st! Additionally, Japan's interest rate hike causing capital to flow back is not just in the crypto circle but is a significant impact on all financial circles! Moreover, the likelihood of this interest rate hike is not small. Regardless of whether the news is good or bad, it may just be in conjunction with the main players to better impact the market, thus controlling market rhythm and sentiment to achieve profit!
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