【Election approaching, market fluctuations are severe, how should we respond? : Bitcoin insights from Peak Brother】

Peak Brother issued a short position for Bitcoin at 68800 at 9:30 AM yesterday, with a stop loss at 69400, but the short position was stopped out, and Bitcoin reached a high of 69520 by noon yesterday.

Peak Brother stated that the potential resistance level above is worth paying attention to. If it breaks through and stabilizes, it could be seen as the end of the downward adjustment, allowing for the continuation of the long-term bullish trend.

As the U.S. elections approach, it is better to wait to avoid severe fluctuations, and during this period, no long-term short positions have been given because the major trend has not turned bearish and the timing is not right.

Peak Brother believes that even if the election leads to a bearish reversal, there will still be one or two attempts to test the previous highs. If the next round of increases gives a signal of reaching the peak, he will remind everyone to prepare and allocate in advance, but of course, this is just an expectation.

If the correction ends and the bullish trend continues logically, then taking a long position can only look at the core pressure of the consolidation axis at 7.25 of the previous high, meaning looking bullish in the short term and bearish in the long term. Currently, the structure is clear but does not meet the entry conditions, and with the election approaching, it is better to let go of intermediate opportunities and maintain a good mindset to execute according to the plan.

In other words, Peak Brother believes that if a crash is to occur, there will still be opportunities to open positions around 70,000, preparing to go short after Bitcoin rebounds if a peak signal is seen, and this would be a long-term short position.

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