Pal BTC Market Daily Report - October 28 I. Candlestick Chart 1. Chart 1 is a daily chart. The blue arrows represent a downtrend, the red arrows represent an uptrend, and the gray area represents the consolidation range. As you can see, after consolidating and forming a bottom between 592 and 675, it is currently building a consolidation range between 756 and 874. This range is currently above the 65-794 range, indicating that the large-scale downtrend has ended, and after this consolidation, it awaits the formation of a new round of upward movement. The key now is to see how far this consolidation will extend. 2. Chart 2 is an hourly chart. The 792 level was tested three times without falling. With the rebound in US stocks, BTC has also experienced a consolidation and upward movement. However, the key level here is the 821 H1 bearish oblique line. If it fails to hold here, it will definitely need to test the 792 IDM level. If it breaks and holds, then it will need to test 84. II. The Decisive Night 1. Tonight at 2:00 AM and 2:30 AM are the FOMC interest rate decision and the Fed Chair's press conference. Then comes the Google MSTF earnings report (see Figure 3 for specific times). 2. First, there's a 90% probability that interest rates will remain unchanged tonight. The key is whether Warsh will continue to signal a tightening in December after the pause in rate hikes. Another key point to watch is whether the FOMC policy statement and the earnings guidance from large tech companies can jointly support the continued rise of risk assets. 3. Looking at Figure 4 (QQQ), this is a pullback to the ob level (ob), finding support before moving upwards. We've now reached the bearish ob level. This is the current bearish ob level, and tonight's performance is crucial. A break above this level would signal a bull market for US stocks, and the current correction would be over. If it fails to break through, the market will continue to fall, and the 700 level will be tested again.