Overview of Bitcoin Market on October 10

Bitcoin's recent trend is fragile, especially after the giant whale transferred 710 BTC to Finex, the price of the currency plummeted by 3%, and the market sentiment is extremely sensitive.

Impact of the US election: The uncertainty of the election has caused the market sentiment to be like a roller coaster, and Bitcoin has fallen into volatility and the direction is unclear.

Focus on economic data: Today's CPI and employment data release may provide guidance for Bitcoin's trend. Positive data may promote a rebound, especially when the 60.1K support level is tested; conversely, poor data will increase the risk of falling below 60K, and the short-term bias is bearish.

Resistance and support:

- Resistance: The first resistance is $61,100, and if it breaks through, it is expected to reach $61,800; but it should be noted that the upward trend is weak, the high point moves down, and caution should be exercised when approaching $61,800.

- Support: The key is 60.4K. If it falls below, the rebound will be blocked. If it loses 60K, the risk of a short-term bear market will increase sharply; the secondary support is $59,300. Once it is lost, the downward space will open.

Technical analysis and suggestions: Bitcoin shows "long shadow" pressure, sellers dominate, and prices are under pressure. Although there is a possibility of a rebound, the market sentiment is pessimistic, and investors should remain cautious and not be blindly optimistic.

**Special attention**:

CHZ (sports fan currency) has been active recently and is worth noting. As the market falls, the sector remains strong, showing signs of capital inflow, indicating that the sector may have upward potential after the market stabilizes. CHZ, the leader of the sports sector, has experienced a strong rebound after the bottom oversold, and is gradually crossing the downward pressure line. If the stock price pulls back to this line in the future, it can be regarded as a good buying opportunity, waiting for the subsequent rise!

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