2024.10.31 9:05 AM BTC Market Analysis
After several days of continuous assault, BTC showed a slight bullish trend yesterday. Early this morning around 4:00 AM, there was a violent rebound of $1200, eliminating many who had shorted last night!
At this moment, BTC is consolidating around the 72300 level, entering an intraday consolidation period. ETH performed strongly yesterday, only dipping to 2635 before not moving further down, and is currently maintaining an upward momentum towards 2700!
Although there was some negative impact from last night's small non-farm payrolls, the cryptocurrency market seems relatively independent. The market is mainly observing and fluctuating, and there have not yet been significant signs of mass exits. The upcoming large non-farm payrolls, September core PCE, and interest rate cuts during the elections are still undecided, making it an optimal time for market participants to engage in a tug-of-war. The main players will definitely not miss out!
BTC Attention
Support 69800-70000/67850/66550
Resistance None
The current key points are 71300-71450/73500. Following the market with stop-loss contracts is still viable. For those who have acquired cheap chips from the significant annual drop, do not easily liquidate your positions. For long-term investment in grid-type strategies, you don’t need to look at the market for the next three months regardless of the situation! Maintain the mindset of not looking until a bull market arrives, and not selling until at least three times the investment return!
