Bitcoin and Ethereum market analysis on the morning of October 31.

The daily chart shows a four consecutive bearish trend, with prices continuously declining and highs gradually moving down, indicating that there is still further downward space in the short term. Despite frequent positive news in the market, the price of coins has not managed to rebound effectively due to the impact of the Federal Reserve Chairman's statement that "interest rate cuts are not a certainty." This aligns with the market logic we often mention: "expectations have been fully digested, and sentiment returns to caution"—when positive news cannot drive prices, it often indicates a depletion of momentum.

The four-hour level is clearer, with two consecutive large bearish candles extending downward, and the price continues to test the support below. If this round of probing effectively breaks below the 107,000 level, the market is likely to continue its weak pattern in the near term, and the operation should continue to focus on short positions.

Early morning trading strategy:

· Bitcoin: Consider placing a short position in the range of 108,000–108,500, with a target down to 107,000.
· Ethereum: Refer to the 3,800–3,830 range to place short positions, targeting down to 3,700#btc