October 31 Bitcoin Ethereum market analysis and trading strategy

Despite a significant drop in the market early in the morning, with Bitcoin falling by more than 4,000 points at one point, this rapid pullback can be seen as a concentrated release of bearish momentum. Such volume declines often have the characteristic of being "one-step to the point." When the most intense selling pressure ends, the market creates conditions for the bulls to counterattack and the bears to cover their positions, which is a healthy washout in the style of a "bull turn back."

Currently, the market focus has shifted to the key support level of 109500. This position is the core trading zone and bull defense line from earlier periods. The price has retraced deeply to this level without effectively breaking below it, which precisely demonstrates its technical importance. Stabilization in this area is expected to form a double bottom and other rebound structures, making it an ideal base for bullish positions. Therefore, morning operations should concentrate on the performance of this support area. Once a stabilization signal is observed in the lower-level candlesticks, one can boldly position for long trades, targeting the upper rebound range. This downward movement has broken through short-term obstacles but has not reversed the trend; going long at the key support level is a choice with a relatively high risk-reward ratio.

Bitcoin: 108700-108000 more, target 109500-110800
Ethereum: 3813-3800 long target 3880-39300 #比特币行情分析 #抄底币种推荐 $BTC