Pause operations, wait for BTC trend to improve
Last night, I saw the news that Trump was leading in the swing states. However, the bears still took advantage of the low liquidity to amplify the panic and heavily hit the market, blowing up a lot of contracts.
Bitcoin continued to fall last night following the market sentiment. The downward trend before the election is relatively healthy, on the one hand due to the uncertainty of the election result, and on the other hand due to the liquidation of long positions
This wave has fallen about 9.1% from the highest point of 73,620. Currently, the 4-hour level has shown a strong signal, and the support for this round of retracement is around 66,000.
Currently, all relevant stakeholders around the world are waiting for the US election, so please be patient.
In the past two days, nothing else has been meaningful, as the focus of the whole world is now on the election, which has overshadowed other major macroeconomic events such as the FOMC interest rate decision. Everything will revolve around the election.
Currently, the rise and fall of prices is almost meaningless, and the real start of the short-term victory and defeat will only come when the election results are out.
I hope Trump can win as soon as possible to drive BTC to new highs!
Is it true that BTC will rise after Trump takes office?
From the current sentiment in the crypto market, we can indeed see a large number of Trump supporters. And there is a strong consensus that if Trump can take office, it will have a very good boost effect on the price of BTC and even a high probability of breaking new highs, after all, Trump publicly supports cryptocurrencies and BTC, and has made a series of commitments to ensure support for BTC after being elected.
So if Trump is elected, regardless of whether he can fulfill his promises, it will indeed give the cryptocurrency market a good expectation, but this expectation is most important based on BTC, and for other cryptocurrencies it may be beneficial, such as getting rid of Gary, but not fundamentally beneficial.
Therefore, there is a high probability that Trump taking office will stimulate the cryptocurrency market, especially the rise of BTC.
Is it true that BTC will fall if Harris takes office?
Relatively speaking, Harris is more likely to continue to implement the Democratic Party's, that is, Biden's, regulatory policies on cryptocurrencies during his tenure, which are not as aggressive as Trump's, which may cause investor concerns and lead to a drop in BTC prices. In fact, this is quite possible, but it is only likely to have an effect in the short term.
From a long-term perspective, the approval of BTC and ETH ETFs occurred during the Democratic Party's rule, especially the futures ETF, which was approved after Gary took office in 2021.
So if Harris is elected, it is indeed possible that the difference in sentiment will cause some investors to withdraw, but in the long run, even the Democratic Party will adopt a more moderate approach to cryptocurrencies.
Continue to hold in the long run, is there still an opportunity to operate in the short run?
Some brothers say that as soon as the election results come out, it might be a great opportunity to short immediately, after all, if it's Trump winning, the good news will turn into bad news, and if it's Harris winning, it will be a direct bad news, so open a short position as soon as the election results come out.
I personally think this idea is wrong and quite absurd.
Instead, I think we need to see the results before taking action. If you really want to do short-term trading, you can make a judgment as soon as the election results are out, and different strategies should be adopted for different winners. Often at this time, the operation is a gamble, and spot may be better, while contracts, especially high-leverage contracts, will have very high risks.
The road of trading, difficult to win, easy to die:
The moment you get involved, your life will enter the purgatory mode. The difficulty of trading lies in the fact that there is no pattern that will let you win all the time. You may lose confidence, and then suddenly have a few good days, chase in and then regret it deeply, but once you choose to trade, there is no turning back.
The road of trading is full of ups and downs, and only those who do trading can understand the bitterness in it.
That's it for the article, if you like it, please give a follow and a like~
The new discussion group has been set up! Now preparing to reorganize the discussion group, as long as the overall market returns to an upward trend, there will be many opportunities for Altcoins to explode. If you want to join the group, please send me a private message, and I will add you to the group one by one!
Create a password welfare group! (I plan to find some low-cap coins with news in the near future to help everyone recover, as the Altcoin season is about to arrive, I will help everyone seize the opportunity to double the Altcoins! The next password I will announce in the welfare group!!)
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