Good afternoon, brothers. A new week has begun, and there are two important events this week: one is tomorrow's U.S. presidential election, and the other is the Federal Reserve's interest rate announcement at midnight on the 8th. The entire market currently believes that if Harris comes to power, the price will plummet, which has led to the market declining in the past two days as a preemptive reaction!
No matter who comes to power, it will not stop the development of this industry; it will only affect the trend of Bitcoin in the short term. It is recommended that everyone observe more and act less before the election results are out. Try not to make large trades; this week could be tumultuous, so please be cautious with your trading!
The Bitcoin weekly chart did not close well last week; it was pushed up but failed to break the previous high and was smashed down again, with a long upper shadow, which can be interpreted as a false bullish signal. The main funds have already started to withdraw for risk aversion last week. The recent declines are due to small retail investors buying in. The current price for Bitcoin can only be traded for short-term swings; the long-term value is really not high.
Today's market analysis:
$BTC Today, pay attention to the position of 68550 for Bitcoin; as long as it stabilizes above this level, a bullish rise at the 1/2 hour level is expected, with upper targets/resistance levels to watch around 69480-70300-70980! (The daily level adjustment will end if it stabilizes above 69480)
If it cannot go up today and breaks below 68550, then the upward movement at the 1/2 hour level will fail, and it will continue to decline. Pay attention to the lower support levels around 68055-67445-66630!
$ETH Ethereum started a strong rebound after hitting the first support level last night, currently sprinting towards the second resistance level. Pay attention to the position of 2461 today; as long as it stabilizes above this level, a strong rebound at the 1/2 hour level is expected, with upper targets/resistance levels to watch around 2495-2523-2555! (A rebound at the daily level will begin if it stabilizes above 2523)
If it cannot go up today and breaks below 2461, then the rebound at the 1/2 hour level will fail, and it will continue to decline. Pay attention to the lower support levels around 2436-2412-2381!
$SOL SOL started to rebound last night and has just accurately reached near the first resistance level. Pay attention to the position of 162.3 today; as long as it stabilizes above this level, a strong rebound at the 1/2 hour level is expected, with upper targets/resistance levels to watch around 166.3-168.6-171! (The daily level adjustment will end if it stabilizes above 168.6)
If it cannot go up today and breaks below 162.3, then the rebound at the 1/2 hour level will fail, and it will continue to decline. Pay attention to the lower support levels around 158-154-150!
BNB started to rebound last night and has just accurately reached the first resistance level. Pay attention to the position of 558 today; as long as it stabilizes above this level, a strong rebound at the 1/2 hour level is expected, with upper targets/resistance levels to watch around 564.7-570-576.5! (A rebound at the 4-hour level will begin if it stabilizes above 564.7)
If it cannot go up today and breaks below 558, then the rebound at the 1/2 hour level will fail, and it will continue to decline. Pay attention to the lower support levels around 553.2-547-538!
[Bringing you the latest market analysis and precise price points daily. If you need specific points, leave a comment in the section, and remember to follow me]
