24/11/01 BTC New Moon opened lower, global assets collectively plummeted, and there is no need to panic unless it breaks below 0.618.
U.S. stock indices fell sharply across the board, with the Dow Jones down 0.9%, Nasdaq down 2.76%, and S&P 500 down 1.86%. It is worth noting that the earnings season for U.S. stocks is not limited to tech stocks? (Seven Golden Flowers) Despite outstanding revenue and profits, considering the current stock price and valuation levels, the market has been disappointed with their performance guidance. Some traditional giants' earnings reports have also disappointed the market, while the approaching election increases uncertainty, leading some funds to start seeking safety. Tonight, the adjusted non-farm employment data for October will be released.
The Mt. Gox address transferred out 500 BTC again after two months, worth about $35.04 million. Notably, the Mt. Gox address still holds 44,900 BTC (approximately $3.11 billion) awaiting subsequent compensation. Every time the market rises to around 72,000, institutions dump before there have been movements from German, Mt. Gox, and Silk Road addresses. This bull market has indeed not been easy.
According to a recent poll reported by Forbes, U.S. Vice President and Democratic presidential candidate Harris leads Trump by a slim margin of only 1%, but 10% of voters may change their minds before the election. Trump's net worth has evaporated by over $1 billion, and the stock prices of his companies have turned from rising to falling. If Harris is elected, it aligns with our earlier prediction that the son will share pre-judgment ideas.
Bitcoin
As of the time of writing, it has fallen to a low of 68,830, dropping nearly 5,000 points from the previous high. Both bullish and bearish views have gone silent. The son’s perspective believes that there is no need to panic unless it breaks below the Fibonacci 0.618, as the trend structure has not changed. The monthly close has shown significant fluctuations, and a reminder was given previously. Whether November can continue the consecutive two-month bullish close is crucial.
The weekly-led wave rebound market has not yet ended, and the daily line adjustment still mainly looks bullish. This rebound has the best chance of creating new highs; if the previous high cannot be broken for a long time, this round of the bull market will also end, and everyone can wash and sleep. It is worth noting that if the weekly rebound reaches 80,000 to 100,000, and the MACD shows a top divergence then, extra caution is needed.
The daily line is temporarily viewed as a confirmation of a pullback after the breakout of an ascending flag pattern. There is still an opportunity for a rebound as long as it does not fall back below. Pay attention to the key support of the daily ascending trend line and Fibonacci 0.618 (68,460).
Support:
Pressure:
Ethereum
Ethereum's monthly closing has not changed much, with both September and October showing Doji candles. The MACD and Bitcoin are moving completely oppositely; the monthly MACD fast and slow lines have crossed and the histogram is below the zero axis. The weekly MACD has not improved, severely dragging down the entire crypto market.
The daily line still shows an obvious support below the converging triangle, and there is also significant pressure above; the key is still to focus on whether 2800 can be recaptured!
Support:
Pressure:
