Affected by the US election, Bitcoin rebounded last night after a decline. Last night's market predictions showed an increase in support for Trump, and the results will be announced today, causing Bitcoin to continue to rise. The current market trend is completely influenced by news, leading to a rapid short-term price surge. Currently, Bitcoin has risen to a maximum of $75,000, welcoming a historic moment again. The medal has mentioned multiple times in previous articles that breaking the historical high is almost inevitable. This means that all Bitcoin holdings are currently in a state of profit. Of course, all holders can sell Bitcoin at any time to take profits. At this moment, Bitcoin breaking new highs means that the upper space is completely opened. The market is set to enter a longer cycle of rising prices, and a bullish tone has been established.
However, at this moment, everyone must be cautious, as this is a short-term bullish trend influenced by news. The market is crazily integrating into the bullish trend, with very active buying. This can easily lead to large institutions and holders selling to realize profits, after all, selling at this time can achieve a large transaction volume without causing a significant price drop, making it an excellent opportunity. Therefore, a price reversal and significant decline is not a low-probability event. The medal has been monitoring the dynamics in front of the computer and can solve problems for everyone at any time.
In terms of operations, I hope everyone can guard against declines, avoid FOMO, and reduce spot positions to evade risks. For those who prefer stable operations, it is recommended to remain in cash and observe over the next couple of days. For those who like to take certain risks, it is suggested to enter the first short position in the range of 74,500-76,000, and add to the position at 77,000 (after entering the supplementary position, if the price falls back to the average price, sell half of the position to reduce risk), with a stop loss at 78,000. For short-term outlook, target 71,000; for medium-term, look below 68,000.
Focus on the medal, share the prosperous world of cryptocurrency!