Trump's election imminent, market atmosphere strong

Yesterday BTC continued to rise, news of Trump's election became a strong positive factor, pushing BTC to a new high, reaching a maximum of 76400. Tonight, the Federal Reserve will hold a monetary policy meeting, and the market expects a 25 basis point rate cut. If this happens, it will be another major positive factor, and the market is expected to rise again. There may be a slight correction during the day, but the trend remains upward, with a healthy daily line and a golden cross forming on the weekly line. Holders remain confident and bullish.

ETH rose alongside BTC yesterday, breaking through 2800 this morning. It is short-term overbought, and there may be a consolidation correction during the day. If there are positive factors in the evening, the outlook remains bullish. It has currently reached the target range of 2800-3000. Those holding can consider reducing positions at highs and wait for a correction to re-enter.

Altcoins are also rising in sync. SATS continues to hold, and a target price around 50 can consider full liquidation. PEOPLE can be held for the medium term, and FTM remains unchanged.

Intraday market analysis

BTC is short-term overbought. If it corrects to the support level, consider positioning. The long-term outlook remains bullish, with support at 73800-74300 and resistance above at 76500-77000.

ETH is also short-term overbought. If it corrects to the support level of 2680-2730, it can be acquired. The resistance level above is at 2930-3000.

Focus on this week's Federal Reserve monetary policy meeting

The November 8 Federal Reserve monetary policy meeting is highly anticipated. CME data shows a 98% probability of a 25 basis point rate cut in November. The results of this meeting will have a profound impact on the crypto market in 2024. Given the current market environment, Bitcoin is poised to challenge historical highs in November. Taking advantage of this timing may be the best opportunity before the end of the year. Those who miss it can only adjust their mindset and wait for the next opportunity.