11.10: BTC will continue to rise, this rebound is different from the previous two.

The current market trend of Bitcoin has pulled out some rebound space from the support area at the bottom of 100,000. Moreover, on the evening of the 7th, there was a clear support test at the bottom, and the support was effective with strong buying. As the current price rises to around 106,000 and consolidates, many crypto enthusiasts might still be worried about whether there will be another wave of pullback. I can't say for sure that there won't be any, but due to the continuous decline in early November, which experienced a significant wave of pullback and sell-off, the pressure from short positions has been released quite adequately. The brief rise hasn’t accumulated more selling pressure, so the demand for buying is stronger, making it easier to trigger a continuous rally. Therefore, shorting in anticipation of a short-term pullback can more easily lead to losses, and the profit margin is not large, as there will be a clear support strength forming in the area of 104,000 below.
The current short-term consolidation seems more like a mid-cycle adjustment after a price increase, followed by a continuation upwards. The next upward consolidation is expected to be around 110,000. The 110,000 mark is also a resistance point from a long-term consolidation level on November 2, where there is selling pressure from trapped positions. Based on the current analysis, it is believed that BTC is still suitable for long positions, with expectations of an increase above 113,000 USD. See you then.