France's October Services PMI Preliminary Value

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Recently, the Bitcoin market has shown a complex trend. The crypto asset quickly pulled back after encountering resistance around $112,500, and subsequent attempts to rally were also unsuccessful, resulting in a continued downward trend. The daily chart shows a candlestick pattern with wicks, and the current price has retreated to around $111,300. Market analysis shows that the daily chart rebound momentum is insufficient. If it cannot effectively break through the resistance level above 113000 dollars, the pullback trend may continue further. Investors should be aware of potential risks and make appropriate preparations. Observing the 4-hour chart, Bitcoin's price rebounded after hitting a low of $110,300 but failed to break through the key resistance level. Currently, the price trend remains within the mid-range area. It is worth noting that the resistance above is continuously moving downward, while the support at the lower band has not fully closed. This means that if the rebound momentum weakens, the market may once again dive lower and create new lows. Overall, the current market maintains a weak oscillation pattern, with the daily chart gains gradually being retraced. In view of this, short-term operators may consider placing short positions after a pullback. Investors should pay close attention to the resistance situation around 113000 dollars. For Bitcoin, consider shorting in the range of $111,500-$112,000, with a target price of $110,500. Regarding Ethereum, pay attention to shorting opportunities in the range of $4,520-$4,540, with a target price of $4,450. However, the Crypto Assets market is ever-changing, and investors should fully assess the risks before making any decisions, combining their own investment strategies to make judgments. The uncertainty of the market requires investors to remain vigilant and adjust their strategies at any time to respond to potential changes.

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