#美国ADP就业数据表现超出市场预期 Bitcoin/Ethereum trend analysis on November 8th at midnight

Looking at the market, that big bearish candle a few days ago before $BTC hit hard, but the bulls have managed to recover over the past two days. Two consecutive bullish candles have formed, and the rebound momentum is building up. The price is slowly climbing out of the bottom consolidation area and is now aiming to push up towards the middle band of the Bollinger Bands. The rhythm of the consolidation and repair is basically visible.

Let's discuss some details from a technical perspective. The MACD had been stuck below the zero line for a while, but with the momentum release from this rebound, it has finally crossed above the zero line. The fast and slow lines have crossed upwards and are starting to diverge, and the red bars are gradually increasing in volume—this signal suggests that the short-term uptrend may continue. Looking at the RSI, it quickly stabilized after dropping into the oversold zone, and it is now clearly turning upwards, with the value back in the neutral zone. Buying pressure is building up, and the pressure from the previous panic sell-off has mostly been released, laying a foundation for the upcoming rebound.

Here are some operational references:
You can consider placing long positions in the range of 101200-101600, with the target around 103500.
$BTC Pay attention to the support in the 3330-3350 range, and the target for long positions can be set around 3470.

Market sentiment is recovering, but don't forget that the impact of the surprising U.S. ADP data is still fermenting, so pay attention to risk control.