Silk Road on the morning of October 31

From the perspective of the Bollinger Bands, the middle band position at 109229 has formed a clear short-term resistance level, which means that in order to reverse the current weakness, it is necessary to first break through this level and hold above it; the lower band at 106279 serves as a key short-term defense line. This level is not only the support threshold of the Bollinger Bands indicator but also a psychological support level formed after multiple tests by the market recently. Once this level is breached, it will break the current range-bound balance and directly open up new downward space.

From the perspective of trend structure, although we are gradually approaching the lower support level and there is a possibility of a brief stabilization, the overall trend still leans towards weakness—this weakness is not only reflected in the continuous operation below the middle line of the Bollinger Bands, but also in the trading volume. Therefore, it is not advisable to blindly gamble on support rebounds at this time; we must prioritize respecting the overall head and shoulders structure.
Operation Suggestions
Bitcoin: Looking around 108000-108200, with a target towards 106500.
Two cakes: around 3800-3820, the target looks towards around 3650 #比特币行情分析