Reviewing the market, we previously predicted that after the new high, BTC would not experience a short-term decline. The market's emotional high is strong, and BTC will continue to rise, targeting the 80,000 position. In the early hours yesterday, the Federal Reserve announced its interest rate decision, expecting a 25 basis point rate cut, which aligns perfectly with the market. Trump's election marks the beginning of a new rate cut in November. Yesterday, BTC closed at its highest point of 76,800, forming a half bullish line. The altcoin has seen a strong rebound in the past two days, with yesterday's peak at 2,950 also within our predictions. This week, we are looking at the 3,000 point position for short-term outlook. BTC's target is around 81,000, which will begin to face short-term selling pressure. Recently, SOL's rebound has reached a high point, so be cautious of risks. The upper space is looking at a new high in the 220-240 range. Overall, the current market situation is not yet over.
BTC peaked at 76,800, forming a half bullish line at the close. The trading volume during the day is continuously rising, indicating that the current emotional high for BTC after this round of new highs is quite strong. At this stage, the price of BTC is high, and daily fluctuations of a few thousand points are considered normal. On the four-hour level, BTC should focus on the effective support range of 75,000-74,500. On the upside, pay attention to the pressure range of 76,500-77,000. BTC must effectively break through the 77,000 level and stabilize there to move towards the vicinity of 80,000.
ETH has been relatively strong in the past couple of days, and during this period, it has shown significant strength, starting to build a base around 2,400. We also published a reminder on November 5, clearly indicating signs of bottoming out. This round of rebound has seen ETH rise over 20%. It has effectively broken through the resistance around 2,800 on the weekly chart. For today, pay attention to the 2,850-2,830 range. Currently, the position around 2,800 serves as the weekly resistance level. As long as it stabilizes at this position, ETH will continue to rise and directly break through the short-term altcoins. On the upside, pay attention to the resistance level near 2,930-2,950.
