After the presidential election, Bitcoin has remained at a high level in the market environment following Trump's election. As previously expected, BTC failed to successfully break through the resistance line of $77,000 to $78,000, and the pace of increase began to slow down.
In my opinion, the Elliot Wave pattern of 1 - 5 waves in Bitcoin's price trend has been completed.
This also means that the next wave of correction is very likely to confirm the bottom at $70,000.
Next, let's summarize the relevant strategies.
Considering the strong buying pressure in the market after the presidential election, it is relatively suitable for investors to short Bitcoin by taking advantage of the corrective wave for short-term operations.
However, for those investors holding physical Bitcoin, this shorting operation is actually an effective means of hedging interest rate risk.
The main short-term strategy is to go long when the price of Bitcoin reaches around $70,000 (with a target price of $78,000).
Finally, it should be emphasized that, as I have mentioned several times before, it is expected that Bitcoin will reach its price ceiling in September next year.
So before that, I think adopting cash and trend-following strategies is the most appropriate. 👉**Follow me to check the homepage introduction and start your wealth journey!**🚀
Starting from September next year, we plan to increase the proportion of hedging shorts to maintain the stability of asset value.
