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Recently, the crypto assets market has shown a complex trend, with multiple factors influencing investors' decisions. Bitcoin has encountered strong resistance in the 116,000-116,400 USDT range, failing to achieve an effective breakthrough, which has become a major technical factor triggering the pullback. It is worth noting that the market Trading Volume has not increased in sync with the price, presenting a "volume-price divergence" phenomenon, suggesting that the current pump momentum may be insufficient and there are potential risks.
Today (October 29), the Federal Reserve's interest rate decision to be announced is undoubtedly the focus of the market. Although there is a general expectation of a possible 25 basis point rate cut, market participants remain cautious before the official results are released. Some investors choose to temporarily exit the market and wait for the results, which puts some pressure on short-term prices.
For Bitcoin trading strategies, if the price rebounds to the range of 115,000-115,500 USDT, there may be a short opportunity, with the target price set around 113,000 USDT. Conversely, if the price pulls back to near the support level of 113,500 USDT, there may be a long opportunity, with the target price looking towards 115,500 USDT.
Regarding Ethereum, if the price rebounds to the 4130-4150 USDT range, there may be shorting opportunities, with a downward target to watch around 4050 USDT.
In the current market environment, investors need to closely monitor technical indicators and macroeconomic events, and flexibly adjust their trading strategies. At the same time, they should also be vigilant about the potential for severe market fluctuations and manage risks appropriately.