Daily Market Analysis (11.6)
Assets related to Trump are skyrocketing, including the US dollar, BTC, Dogecoin, DJT, etc.
Among them, DJT saw a post-market increase of over 30%, showing outstanding performance. From the current situation, Trump has a high probability of winning the election.
The price of Bitcoin is deeply affected by the election; it rises when Trump is leading and falls when Harris is ahead.
From the 1-hour chart, the indicators have switched from a death cross to a golden cross instantaneously, showing a bullish trend.
The downtrend of BTC has ended, with the key resistance level of 70500 being broken. It is recommended to make low-position investments.
The possibility of BTC breaking previous highs is high. For long positions, if the price is above 74500, one can sell in batches as the price rises.
Since positive news often turns into negative after it lands, leading to price retracement, it is also important to watch for potential reversals in voting results that could trigger corrections.
The points at the beginning of this month are all the low points of this month.
Strong altcoins have opportunities for catch-up. After the first wave of rise, there will likely be a consolidation and retracement phase, but one should set stop-loss orders appropriately.
Strong altcoins like TURBO, WIF, SUI, SAGA, PEPE should be prioritized as targets for bottom-fishing during each drop.
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The four altcoins Pyth, Link, BB, and ARKM have positive expectations.
In terms of operations (leverage below 5 times)
BTC: Make a position at 71385, 70517 with a stop loss set at 7000.
ETH: Make a position at 2508, 2470 with a stop loss set at 2450.
SOL: Make a position at 174.57, 171.6 with a stop loss set at 170.
BNB: Make a position at 575, 570 with a stop loss set at 568.
