Analysis of thoughts on the morning of October 30.

In the early hours, Federal Reserve official Powell released a strong signal, putting downward pressure on the dollar index. Although the market had generally expected a 25 basis point rate cut, this news had been fully digested, and after the favorable news was exhausted, it instead created pressure.

The Bitcoin remains in a low-level fluctuation on the one-hour chart, with evident insufficient buying momentum and bearish forces dominating. The price continues to be constrained by the pressure of the Bollinger Band's middle line, with each upward attempt to test the 111800 to 112000 area being met with resistance and falling back. The resistance above is heavy, and the supporting strength is weak.

The MACD indicator shows a death cross pattern, with bearish momentum continuously strengthening; the volume distribution highlights a weak pattern—volume decreases during rebounds and increases during declines, further confirming the bearish control. If it cannot effectively break through the mid-track resistance in the short term, the market may continue to seek a bottom, and the window for a bullish counterattack is narrowing.

It is recommended to short when the price rebounds to around 111000-111500, with a target looking down at 110000. If it breaks down, continue to look down at 109000-108000.
#GateVentures战略收购PerpDexADEN #ETH链上活动升温 #比特币行情分析