The countdown to the U.S. election has begun. Yesterday, it quickly dropped to 68,830, rebounding to 71,632 in the evening. After one hour, a K-line quickly fell, rebounding at the 68,800 support level. Overall, the K-line is still above the Fibonacci 0.618 level and has not broken below the bottom of the bullish candle from October 29, which serves as a pivot point for bullish and bearish trends. It also coincides with the daily upward trend line. If it breaks below the 68,400 level without recovering, it will confirm a continued decline.
On November 2, according to public documents from the U.S. Securities and Exchange Commission (SEC), 21Shares has submitted an S-1 application to launch the first XRP ETF, "21Shares Core XRP Trust."
Interest rate futures indicate an increased likelihood of the Federal Reserve cutting rates by 25 basis points in November, December, and in 2025, with a 95.6% probability of a 25 basis point cut on November 8.
Bitcoin
Currently, the daily chart remains near the upper side of the upward trend and is also supported by the bottom of the bullish candle from the 29th, as well as the Fibonacci 0.618 support. Therefore, pay attention to the price of 68,400, which must not be broken. If it breaks, there is a chance to drop to 65,000.
Whether on the daily or 4-hour level, the 60,000 bottom is confirmed. Around 65,000, there is another ideal state, with the possibility of a rebound starting between 68,000 and 68,800. The stop-loss for bottom fishing is at 68,000.
Support: Pressure:
Ethereum
There isn't much to see with Ethereum. Near the lower part of the converging triangle, buy in batches without breaking. If it rebounds but does not break above 2,800, reduce positions and wait for the market to develop!
SOL has touched the downward trend line and has been pushed down again, currently testing support around 160. Here, we also need to see if Bitcoin can support a rebound near 68,000. The best bottom-fishing opportunity is at the lower edge of the triangle around 120, which may be difficult to reach quickly. Be patient or choose to trade the breakout.
Support: Pressure:
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The article is time-sensitive and for reference only, with real-time updates.
Focusing on K-line technical research, sharing global investment opportunities. Official account: Trading Prince Fusu
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