#巨鲸动向 Market Insights on October 29:

The current market correction is the result of multiple factors working together, including the escalation of geopolitical conflicts, the chain reaction triggered by the liquidation of high-leverage positions, and the cumulative impact of various negative macroeconomic pressures. Although the short-term adjustment has been significant, with Bitcoin breaking through the lower edge of an important fluctuation range and market sentiment temporarily leaning towards the bearish side, the resilience exhibited by the market at this stage is clearly superior to historical cycles. In particular, the explosive growth in institutional investors' demand for allocation to digital assets provides a solid foundation for future price trends.

On the daily chart level, after establishing a foundation with consecutive gains, the price enters a gradual upward phase, ultimately forming a candlestick pattern with a long upper shadow. This trend clearly indicates that the market is in a stage of bullish energy accumulation. Combined with the already established bullish alignment of moving averages, the overall upward momentum is currently quite solid.

From the four-hour chart, although the price briefly fell below the middle band of the Bollinger Bands, it quickly surged strongly and left a clear long wick pattern. During this period, the bears failed to release effective trading volume, indicating that this pullback is essentially just a healthy correction after a previous one-sided upward trend, rather than a signal of a trend reversal. The likelihood of maintaining a strong pattern moving forward still dominates. Currently, Bitcoin is in the mid-range consolidation phase, with a very clear support system below. Not only is there a solid bottom support formed by medium- to long-term moving averages, but the middle band of the Bollinger Bands also constitutes an effective defense line, keeping the pullback space strictly limited and overall decline relatively minor.

During this process, the changes in trading volume indicators become key judgment criteria: if the trading volume decreases in a stepped manner during a price pullback, it will directly prove that the selling pressure from the bears is continuously weakening and the market's selling force is gradually being exhausted; once a volume rebound occurs, and the trading volume effectively breaks through the recent average level, it indicates that bullish momentum will concentrate and explode.

Operation Suggestions:
BTC: Consider going long in the 112500-112000 range, target around 114000.
ETH: Consider going long in the 3950-3930 range, with a target of 4010-4040.