On the news front, the U.S. midterm elections are underway, and today we really did feel the tense atmosphere. Early this morning, Iran’s supreme leader authorized the government to negotiate with the United States, and Trump also said he would not take military action against Iran after the midterm elections. In addition, Zhao Changpeng said Binance had covered the losses from this theft using its own assets, without borrowing money or selling assets. The result: crude oil fell, U.S. stocks fell, gold fell, and Bitcoin fell too. It seems the market has a pessimistic outlook for after the midterm elections. It will still be a few days before the voting results are in, so everyone should be patient in the short term.
Technically, yesterday Bitcoin’s relief bounce topped out near $78,800 before a second test of the lows began. Buyers did not even reach the basic passing mark of $79,500, showing just how strong fear and anxiety are in the market. The reasons are, first, concerns that U.S. financial policy will tighten further after the midterm elections, and second, fears that the stolen digital assets will be sold on the market, further tightening liquidity. Cold Wind’s view remains unchanged: the main decline in the Wave 2 correction is already over. Now we need to see how low this second test will go. First, we need to see whether $76,200 can hold. If it does, Bitcoin’s correction will be over, and then we’ll look at when it can reclaim $79,500. Second, if $76,200 breaks, the next support should be between $73,000 and $75,000. But Cold Wind offers one reminder: the $72,000–$73,000 level must not break. If it decisively breaks below that level, the bull market is over.
Ethereum is moving in step with Bitcoin, so trade according to Bitcoin’s rhythm. Personally, I think Ethereum’s short-term trend is stronger than Bitcoin’s, which should help restore market sentiment. #美国中期选举倒计时，美股博弈窗口已开启？ $BTC
Technically, yesterday Bitcoin’s relief bounce topped out near $78,800 before a second test of the lows began. Buyers did not even reach the basic passing mark of $79,500, showing just how strong fear and anxiety are in the market. The reasons are, first, concerns that U.S. financial policy will tighten further after the midterm elections, and second, fears that the stolen digital assets will be sold on the market, further tightening liquidity. Cold Wind’s view remains unchanged: the main decline in the Wave 2 correction is already over. Now we need to see how low this second test will go. First, we need to see whether $76,200 can hold. If it does, Bitcoin’s correction will be over, and then we’ll look at when it can reclaim $79,500. Second, if $76,200 breaks, the next support should be between $73,000 and $75,000. But Cold Wind offers one reminder: the $72,000–$73,000 level must not break. If it decisively breaks below that level, the bull market is over.
Ethereum is moving in step with Bitcoin, so trade according to Bitcoin’s rhythm. Personally, I think Ethereum’s short-term trend is stronger than Bitcoin’s, which should help restore market sentiment. #美国中期选举倒计时，美股博弈窗口已开启？ $BTC