10.31 Afternoon BTC Market Analysis

From the daily chart perspective, BTC previously experienced four consecutive bearish candles, and after the price reached the lower band, it triggered a strong rebound. The daily candle ultimately formed a long lower shadow, with the body changing from bearish to bullish, indicating a signal of reversal from the previous downtrend.

Switching to the one-hour level, the market shows a strong upward trend with five consecutive bullish candles. The price has successfully risen from the lower band and stabilized above the middle band, with the potential to launch an assault towards the upper band. At the same time, the MACD indicator has formed a golden cross and continues to diverge upwards, with short-term bullish momentum being ample, providing effective support for further upward movement.

In summary, the core strategy for afternoon operations remains focused on buying the dip.

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