#加密市场回调 **Morning Observation on November 5**

Recently, there has been some discord within the Federal Reserve. The hawks and doves are arguing fiercely, and the market has directly lowered the expectation for a rate cut in December. Taking advantage of this, the U.S. dollar index has broken through the 100 mark, reaching a new high in over three months. This is not good news for the crypto market - the pressure is quite evident.

However, speaking of which, the bubble alert has been sounded on the US stock market, and with the government shutdown still unresolved, there is still some motivation for safe-haven funds to flow in. In the current situation, the bears have a slight advantage, and there is significant pressure for a short-term correction.

**What do we think about Ethereum?**

After falling below 3055 yesterday, based on technical analysis and market sentiment, the short-term rebound window for shorting is still open. Looking upwards, the range between 3250 and 3300 is a tough resistance—bulls have tried several times to break through but have returned empty-handed.

Looking closely at the hourly chart: the moving average system is about to show a bearish posture, and the 5-hour moving average is applying pressure from above. There's another detail: 3500 USD was originally a support level, but once broken, its nature changes and it may turn into resistance. If the price rebounds to that area, it is likely to be pushed back down. This position is suitable for looking for shorting opportunities, and pay attention to whether 3200-3300 can hold.

**Operation Idea Reference:**
- Ethereum: Short positions near 3350, stop loss set at 3410, target looking at the 2900-2800 range.
- Bitcoin: Consider shorting near 102500, stop loss at 103200, target 95000-89000

$BTC $ETH