Bitcoin and Ethereum Latest Price Trend Analysis: 10/31

Bitcoin (BTC) Latest Market Trend Analysis (October 31): The current market exhibits a clear range-bound pattern, with prices fluctuating between the key support level of 108,000 and the resistance level of 112,000. Technically, market sentiment is balanced, momentum is weakening but sell signals remain. The hammer candlestick pattern resonates bullishly with the support level, suggesting it may hold. However, the bearish alignment and death cross of the moving average system indicate continued downward pressure, creating a significant contradiction in the technical signals. The market is currently in a range-bound state, with prices approaching the 112,000 resistance level. The bearish alignment and death cross of the moving average system suggest the resistance level may hold. Therefore, shorting near the resistance level is a reasonable choice given the current market conditions. My trading suggestion is to short-term traders with small positions. For Bitcoin, short at the current price of 110,000, add to the short position at 111,000, with a target around 108,500. For Bitcoin 2, short at the current price of 3860, add to the short position at 3920, with a target around 3780.