11.1 Morning Analysis #BTC00929
Last night, Bitcoin dropped significantly by 3000 points. Based on the current market conditions, this wave of decline may be nearing the end of its corrective process, and the market is bound to welcome new rebound opportunities.
Looking back at the previous increase, the intensity of this decline is within a relatively reasonable range. In my personal opinion, once the Bitcoin price completes its correction, it is still expected to rebound to 74000 or even higher, especially with the US elections approaching, which should be a good opportunity!
Position Suggestions
- BTC Short-term: Go long around 69000 - 69500, target price at 71800 - 73000.
- ETH Short-term: Ethereum (ETH) is relatively weak, go long around 2490, target price at 2600.
