Bitcoin Market Analysis and Trading Suggestions on October 31 (Written at 0:44):

The current price of Bitcoin (BTC) is around 108,000. Yesterday, the market rebound was below expectations, and the price fell again, breaking through the MA200 mentioned by Hongjie and dropping below the EMA200 (108,100). Clearly, there was no second support. Therefore, there is no need to rush into long positions, and the trend continues to move downward. The strategy remains to look for short-term rebounds to continue shorting. The target below is to see if 107,000 can hold today; if it cannot, the price will move towards the convergence of EMA250, MA240, and the lower boundary (around 105,100). On the upside, we look at the MA200 pressure, which is the low point of yesterday's support rebound that may form today's high point pressure. For short positions, the stop-loss can be placed above yesterday's rebound high. From the MACD, the green bars have shrunk and are approaching the 0 axis, and the DIF and DEA are converging, about to form a death cross. Once the death cross is formed, caution is needed for long positions! If the price breaks below the daily lower boundary, the space will continue to expand towards the weekly lower boundary!

Selling Point Sharing: Light short at ≥109,200, stop-loss above 116,000. Take profit at 108,100-107,400; if it breaks 107,300-107,000, you can continue to hold until around 105,100.

Buying Point Sharing: Light long at ≤105,200, stop-loss below 104,500. Take profit of 1,000-2,000 points; for counter-trend long positions, the position must be light, and profits should be taken promptly without being greedy.

There may be delays in article review and push notifications; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!

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Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration in the days to come. Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and improving your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. Wherever you are, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone a smooth journey in the cryptocurrency world, returning with a full load!

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