Currently, BTC is still trying to break through the $70,000 resistance level on the daily chart, but it has not been able to effectively break through. However, from a technical perspective, such as the EMA20 daily line has risen to around $66,000, indicating that the daily bullish trend still maintains a slight advantage. Therefore, BTC will continue to operate at a higher level in the $65,000-$70,000 fluctuation range this week.
The market can only open up a new trend by breaking away from the $65,000-$70,000 fluctuation range, but currently, I cannot predict this because the market is highly divided. Also, next week the news will be about the U.S. elections on November 5, and the results will likely come out on November 6. At that time, the market will definitely react, which may be an opportunity to end the fluctuation. Although I subjectively believe that Trump has a high chance of winning, which would be a long-term positive for Bitcoin, how the market will react in the short term is still uncertain, as well as how many measures can be taken to save the economic recession and the ever-increasing government debt once Trump is in office. Anyway, it’s all muddled; to the left is a mountain of knives (high unemployment), and to the right is a sea of fire (high inflation).
Of course, we cannot understand these complicated things too deeply. Regardless of who takes office in the future and how the economy will be, we just need to focus on inflation and unemployment rates, as well as the Federal Reserve's interest rate cuts, and then act accordingly.
Finally, I will make a prediction. I personally believe that after Trump takes office, Bitcoin will initially rebound, but due to the global economy being in a recessionary downward cycle, and the rare stagflation risk of high inflation and high unemployment that may arise at any time, pessimistic sentiment will spread. Subsequently, the entire financial market, including the U.S. stock market and A-shares, will experience a sharp decline, and the capital market will be reshuffled.
Ethereum
I still don't quite believe him; I always feel that the probability of him drawing a door is higher than the probability of him pushing up. The lower support is 2458-2437 (let's not talk about the distant position for now), and the upper resistance is 2491-2512-2535. If it doesn't break 2458 on a pullback, it can stabilize at 2491 upward, indicating a short-term recovery of bullish sentiment. If one of the two conditions is met, it indicates a short-term stop of the decline. If neither is met, it will continue to decline. Since the last spike in Ethereum, 2458 has not been stress-tested with volume; the validity of the support is also hard to confirm, and we need to observe further. A potential support has appeared at 2470, but it hasn't been stress-tested either; the amplitude is too small, so in this case, it's better to wait than to force it.
Solana
Resistance levels are 173, 177. Potential support at 170, 168. The reason for the potential is that after the spike, there was a one-sided rebound market; these two positions have not been stress-tested, so the effectiveness of the support cannot be confirmed. A fluctuating upward movement, with an increase of three and a retreat of two, is much healthier than the current pattern, which is either a one-sided rise or a one-sided decline.
BNB
The position at 580 has been stress-tested; giving this position again can be a gamble with a stop-loss, but the upside is limited. The first resistance level is 588; without a large bullish candle here, it's hard to move up.
