That Man is Back in Action: Mentougou's Mysterious Operations
We've been looking forward to the U.S. election, which officially started yesterday at 1 PM Beijing time and will last until 11 AM on November 6, when the voting system will begin counting. This means we should see election results around noon today, followed by certification and meetings, with the official inauguration on January 20, 2025.
Last night at 10:30 PM, after the U.S. stock market opened, Trump's media company's stock surged, alongside a rise in Musk's company stock. Bitcoin followed suit, skyrocketing by $1500 to break the $7000 mark, and Dogecoin surged 10% to break $0.18. Is it certain that the King of Understanding has won? According to polls, the King's winning probability has rebounded to 62, and he is also leading during this swing week. Bitcoin has just broken the $71000 mark.
At this moment, Mentougou also joined the excitement, crazily transferring Bitcoin, with a total of 34,796 coins moved out in the past 5 days. This mysterious operation is quite impressive; anyway, there will definitely be turbulence these days. My advice is to observe if you can, and don’t let it affect your mindset. After all, the market after the election is what we should look forward to. No matter who wins, BTC will always hit new highs after each election. If the King of Understanding wins, it will only rise faster, what do you think?
Returning to market analysis, yesterday morning's analysis mentioned that as long as the 4-hour level does not fall below the lowest point after producing a lower shadow, it will rebound. Sure enough, by evening, the King's support led to the expected rise. From the candlestick chart, Bitcoin is in an upward trend on the hourly level, and in an upward trend on the 4-hour and 12-hour levels, while the daily level has not fully entered an upward trend (as long as there’s no significant drop today, it can enter an upward trend tomorrow). The election results are about to be announced, and short-term fluctuations will become larger. Remember to use low leverage; holding spot is just fine.
