Evening Thoughts on Bitcoin for October 6.30
After a rise to 1087 in the morning, Bitcoin has pulled back and is currently slightly retracing after testing 1073. It has previously failed to effectively break above 1072 multiple times. The probability of a one-sided move is low; in the short term, the focus will still be on low volatility. However, attention must be paid to the opening of the U.S. market tonight. Last week ended at a new high, and there is a significant chance of a pullback tonight, which could affect the Bitcoin market. Regardless of bullish or bearish positions, risk management is essential.
Trading Suggestions:
Bitcoin: Trade around 1070-1073, aiming for the previous high near 1088; if it breaks, continue to chase long at 1095.
Ethereum: Trade around 2430, aiming for 2500; if it breaks, continue to chase long at 2520.