Pal BTC Daily Market Report - November 9th 1. Daily Chart (Chart 1) 1) As mentioned over the weekend, liquidation was expected at 749, and it happened this morning, resulting in a 1 billion yuan liquidation. Currently, it's fluctuating around 746. The next move depends on whether the US stock market opens higher or lower tonight. 2) The downside target remains 732 (70-71). 2. Hourly Chart (Chart 2) Today, it fluctuated between 735 and 757. After a dip to 735 in the morning, it formed a secondary low in the afternoon. The 766 level is currently a key bearish resistance level. There are three possible scenarios here: 1) If it holds above 745, then it will likely target 757 and test the 766 bearish resistance level. 2) If 745 is broken and US stocks crash, watch for a potential move towards 735, testing the vicinity of 732, or further downward movement. 3) If 766 is broken, the current downtrend is likely over in the short term; consider buying on pullbacks.