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November 5th Bitcoin Ethereum market analysis


Bitcoin dropped below the $100,000 mark, briefly reaching the market fair price area around $98,000. It is noteworthy that the price received effective support at this position twice and showed significant rebounds. If the recovery trend can continue in the short term, testing the resistance level of $105,000 is an achievable goal.
The Ethereum trend is relatively weak, and the $3000 level is on the verge of being breached. Currently, attention should be focused on the price's retest of the $3350-3400 range. A true trend reversal may need to wait until the U.S. government ends its shutdown.
Operational Recommendations:
Daily support level: 97500-98000 Go long
Intraday resistance level: 114500-115000 Short position
BTC-2.63%
ETH-4.25%
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