On October 27th, at midnight, Tao discussed Bitcoin:

On October 27th, the current price of Bitcoin is around 113700. Market sentiment is gradually recovering from the previous panic atmosphere, and technical indicators show that the short-term trend is leaning towards a slight upward movement. However, it is important to note that during the current upward movement, the trading volume has not effectively increased, resulting in a divergence between price and volume, which indicates that the foundation for the rise is not solid, and the risk of a pullback still needs to be guarded against.

Key levels are crucial for judging the direction of the market. On the upside, 114000 is the recent strong resistance level. If it can break through this point with increased volume, it is expected to further open up upward space, with the next target looking towards around 115900.

Downward support is equally critical, with 112000 being the current first important support line. If the price falls back to this level and stabilizes, it may create an opportunity for a short-term rebound; however, if it effectively breaks below, the next key support range will be between 108000 and 110000.

For operational reference, trade within the range of 113600-114100, with the first target at 112800 and the second target at 111800. The market is highly volatile, so it is essential to manage risks effectively. $BTC #BTC☀️