U.S. stock indices fell sharply across the board, with the Dow Jones down 0.9%, the Nasdaq down 2.76%, and the S&P 500 down 1.86%. It is worth noting that the earnings season for U.S. stocks is not limited to technology stocks. "Seven Flowers" had outstanding revenue and profits, but considering the current stock price and valuation levels, the market was disappointed with their performance guidance. Some traditional giants' earnings reports also disappointed the market, and with the upcoming elections increasing uncertainty, some funds began to seek safety. Tonight, the adjusted non-farm payroll data for October will be released.
The Mt. Gox address transferred 500 BTC again after two months, worth approximately $35.04 million. It is noteworthy that there are still 44,900 BTC (approximately $3.11 billion) in the Mt. Gox address awaiting subsequent compensation. Every time the market rises to around 72,000, institutions have been selling off, and addresses from Germany, Mt. Gox, and Silk Road have also been moving from time to time. This bull market has indeed not been easy.
According to a report by Forbes, a recent poll shows that U.S. Vice President and Democratic presidential candidate Harris leads Trump by a slim margin of just 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 early prediction that the young master will share his forecasting ideas.
Bitcoin
As of the time of writing, it has dropped to a low of 68,830, nearly 5,000 points down from the previous high. Both bulls and bears have gone silent. The young master believes that there is no need to panic as long as it does not break below the Fibonacci 0.618 level; the trend structure has not changed. The monthly closing has shown significant volatility, and there was a reminder about this earlier. Whether November can continue the upward trend is crucial.
The weekly dominant rebound market has not yet ended, and the daily correction still leans towards bullish. This rebound has the best chance of reaching new highs; if the previous high cannot be broken through for a long time, this round of the bull market will end, and everyone can just wash and sleep. It is important to note that if the weekly chart rebounds to 80,000-100,000, and the MACD shows a top divergence at that time, extra caution is needed.
The daily chart is still viewed as a pullback confirmation after breaking out of an ascending flag pattern. As long as it does not drop back below, there is still a chance for a rebound. Pay attention to the key support levels of the daily ascending trend line and Fibonacci 0.618.
Support: Pressure:
Ethereum
The monthly closing for Ethereum has not changed much; both September and October are doji stars. The MACD is moving completely opposite to Bitcoin, with the monthly MACD fast and slow lines crossing and the histogram falling below the zero axis. The weekly MACD has not risen, severely dragging down the entire crypto market.
The daily chart still shows clear support below the converging triangle, and there is also significant pressure above. The key focus remains on whether it can recover the 2800 level!
Support: Pressure:
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The article is time-sensitive and for reference only, updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Young Master Fusu
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