This week's summary:

October 27 Early Thoughts
Bitcoin this week has seen a washout of both long and short positions, much like the waves sifting sand, eliminating a large portion of retail investors; it truly is survival of the fittest. This morning, the market experienced a deep decline due to the effects of the conflict, but then returned to calm, showing a sideways trend. It is expected that there won't be significant fluctuations in the market, and we will see how next week's market develops. From a weekly perspective, there was intense competition around the mid-band area in the previous price movements, ultimately leading the bulls to push up with a large bullish candle that opened the upward channel, forming a significant bullish pattern. However, this rise did not break through the previous high of 70,000, and subsequently, there was a bearish K-line pullback, indicating signs of stagnation in the short term. But from a longer-term perspective, the overall market still shows an upward trend, with no strong reversal signals; the current short-term pullback is just a normal correction after the rise, so the overall direction remains bullish. On the daily chart, the Bollinger Bands are moving upward, and the price has retreated after a previous high, but the overall structure is not significantly affected, with strong support in the mid-band area. The MACD indicator shows gradually weakening volume, and the KDJ three lines are diverging downward, indicating a short-term need for a pullback. Currently, on the daily chart, support is at 65,000, and resistance is in the 70,000 area. In terms of operations, one can first pay attention to the pullback situation and consider going long after obtaining support.

Bitcoin: 66,200-66,700 long. Target 67,300-67,800
Ethereum: 2,420-2,460 long. Target 2,510-2,550
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