The special coin surged, currently facing the previous high pressure at 73700, and after being blocked, it has retraced to the current low point near 69650. Will there be another wave of increase after 8:30 tonight...? According to the current market analysis, the situation is not very promising.
Tonight at 8:30, non-farm payroll data, the results of the U.S. presidential election on November 5, and the Federal Reserve's interest rate decision meeting on November 8.
From a technical perspective on Bitcoin, the weekly level head gap at 72000 needs to break through to touch the previous high and retrace. Thus, the overall oscillation Bitcoin is experiencing now may be a large-scale head and shoulders left shoulder, potentially forming a new large-scale head. Currently, the trend support between 38500 and 49000 has gradually risen to around 54500 over time.
Ethereum market situation, the original triangular oscillation trend support test level has been raised to around 2402 over time, meaning that as long as Ethereum falls below 2400 in the short term, it can accelerate the decline to test the large-scale trend support point near 2000, maintaining a bearish outlook.
Bitcoin trading strategy: continue to hold a short position near 71500, target TBD.
