November 9th BTC, ETH trend market analysis:

In recent days, the market has been unilaterally rising in a range, with BTC, ETH, and most altcoins experiencing different degrees of pump, giving investors more confidence. Yesterday, Lao Jin mentioned that the heat of the Fed's interest rate cut has not dissipated. After nearly 3 months of bottoming out at the daily candlestick level, the explosive rise of the BTC and ETH market finally arrived. Unlike the previous 4 years of DPP governance philosophy, the Republican Party has adopted a relaxed economic policy strategy, which means that the trend of medium to long-term long positions will be evident in the next 2-3 months. Therefore, Lao Jin has always maintained a bullish market strategy for the future rise of the market.
BTC, ETH's short-term market continued its upward trend after a slight pullback in market data yesterday, reaching highs of 77,000 points for BTC and 2,990 points for ETH, with gains of about 0.5% and 2.1% respectively compared to yesterday. The pump intensity of BTC has slowed relative to ETH, which is inevitably related to the previous crazy pump of BTC. However, it cannot be denied that both BTC and ETH still maintain a trend of retracement and further upward movement in the short to medium term. In the short term, ETH's 4-hour chart experienced a brief pullback to around 2,880 points, and then long positions continued to oscillate upwards. There is no significant selling pressure in the high position of market data in the short term, so I also maintain the view that long positions will continue to rise in the recent market, and the high point of 3,200 points mentioned earlier may be just around the corner. Brothers who have followed our ETH Spot market layout can wait and see. Compared to ETH, BTC's high point is at a historical high and there is no good reference range in the long term. However, the upward trend of BTC shows no signs of weakening, so the same trading strategy as ETH can be adopted.
BTCfollow near the short-term downward support level of 75500, ETHfollow the resistance level around 2880.
Short-term strategy recommendation: Buy on the retracement of BTC to 75800-75500 points, with risk control at 74800 points, and target around 78200 points.
ETH recommended to buy at the retracement of 2920-2910 points, with risk control at 2860 points, and the target is around 3020 points.