October is the month with the highest return on investment for Bitcoin.
Judging from the recent performance of Bitcoin, the market has reversed and is expected to regain 70,000 next month and hit a new historical high. October and autumn are destined to be a season of harvest!
Back to today's market,
Will Bitcoin be able to effectively stabilize after breaking through $66,000, and will it fall or continue to rise in the future? This is something that each of us has to consider. Let's analyze and judge from the clues that have already emerged from the market:
According to the principle of acute conversion, the pressure point will be converted into a support position after being broken through.
Then the position of 66,000 US dollars will become a support, and what we need to consider now is the position of 66,000 US dollars. Is it a real breakthrough or a lure to buy?
From a technical perspective, there are two ways to judge whether a breakthrough is true or false. One is an effective breakthrough in time, and the other is a breakthrough in space.
So let's look at yesterday's breakthrough from a spatial perspective. It was obviously not enough. Although the body of the positive line was a medium-sized positive line and the volume was a large breakthrough, the amplitude was not enough. This is one reason.
The second is that it takes two or three rising K-lines to verify, and there is not enough time at present.
Although the market is still on an upward trend, there are no obvious reversal signs.
But to confirm a real breakthrough and whether it will be an effective breakthrough, we still need to continue to observe the next two K-lines, as the probability will be greater.
Summary: The probability of a real breakthrough in the current position is high, so the probability of a subsequent rise is also high.
Bitcoin spot ETF has seen net inflows for a week. The Federal Reserve will continue to cut interest rates in November, and traditional financial funds will continue to flow into the cryptocurrency circle. After sideways adjustments over the past two weekends, Bitcoin is expected to continue to rise next week, and it is expected to regain 70,000 by early October.
