Thoughts on the Early Morning of October 31

Last night, Bitcoin officially showed a counter-trend movement, and Ethereum has preliminarily entered a recovery mode. Of course, this wave could also be a smokescreen released by the operators. However, a recovery is already inevitable.

In contrast, Bitcoin has surged from around 65700 to 73660 in just four days, and as it is about to break the historical high, there was a pullback. Is it time to long-term buy at this position? I don't think so yet! With the elections approaching, the pullback in Bitcoin is not significant, and it can still be considered a normal adjustment. Many short positions are trapped, those around 70000, 69000, and even 68000 are still holding out. There are countless short-term traders turning bearish, so there will always be opponents. Before the elections conclude, or even within a week after, it is possible to maintain a high position! In the case of a not-too-large volume, it is advisable to observe long-term and focus on short-term!

Looking back at the current market, this round of Bitcoin's pullback is not yet complete. The suggested operations are:

Long Bitcoin around 72100, look to buy around 71300 or even 70800, with targets around 72500 or even 73000.

Long Ethereum around 2685, look to buy around 2650, with targets around 2690-2740.

The above thoughts are for reference only, please refer to the actual market.