October 29 noon: bitcoin broke through the $70K price once again and reached a key level.

Against the backdrop of a large amount of inflow of ETF funds, the price of bitcoin has risen to around 71,500, indicating that the crypto market is at a key moment, reflecting the increasing interest and confidence of institutional investors. As bitcoin continues to establish itself as a reliable asset class, traditional markets such as gold must make adjustments if they hope to remain relevant in a rapidly evolving investment environment. With the arrival of October, investors need to stay vigilant about the development of cryptocurrencies and traditional markets.

Daily level of bitcoinCandlestickBreaking through 70K and engulfing the previous high point, the second key level of 72,000 to push upwards: the intraday coin price rebounds near the highest point of 71,580 for consolidation and absorption. If it does not break through the 0.07 million mark for a long time, bitcoin will continue to surge in the future.Support level.To break through historical highs, if unable to break above 71,500 in the 15-minute period, there may be a short-term demand for a pullback, allowing for a short-term bearish position.

Trading recommendations

Rebound: Short at 71,500

Risk control: 530 points

Target: 70,500

Pullback: Long at 70,300

Risk control: 550 points

Target: Around 1,000 points

For those who listened to yesterday evening's live broadcast and shorted at 71,500, please hold patiently.