The much-anticipated US election has entered the final month countdown. In the long run, regardless of the election results, Bitcoin will develop in a positive direction under low interest rates and the continued normal US fiscal deficit and unprecedented debt levels. If Democratic candidate Harris wins in the end, the cryptocurrency market may be hit in the short term, and Bitcoin may retest the $40,000 support; but if former US President Trump wins, it will be more conducive to Bitcoin's rise, and it may even rise to the key resistance of $80,000.

In terms of cryptocurrency, Bitcoin briefly touched $62,411 earlier yesterday as U.S. stocks closed higher, and then fell rapidly. It fell to a low of $60,302 at nearly five o'clock this morning. As of the time of writing, it was quoted at $61,149, down 1.73% in the past 24 hours. It will take more time to observe whether it can stabilize at $60,000.

Bitcoin four-hour chart
　

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First, according to the Bollinger Band indicator in the Bitcoin 4H level chart, the Bitcoin price is running between the middle track and the lower track, and is currently close to the lower track, indicating that the market is testing the support position. If the price fails to effectively break through the lower track and stabilize, then the price will rebound to the middle track or even the upper track. If the price effectively breaks through the lower track and continues to fall, it means that the short force is strong and there will be further room for decline.
　
Secondly, according to the KDJ indicator in the Bitcoin 4H level chart, the K-line value and the D-line value are both running below 50, and the J-line value is even more sluggish, indicating that the market is still in a weak state. However, the KDJ three-line value is currently in an oversold state, which may have the risk of rebounding. It is necessary to observe whether the subsequent KDJ indicator will turn upward. If a golden cross state is formed upward, the price will rebound.
　
Finally, according to the MACD indicator in the Bitcoin 4H level chart, both the DIF line and the DEA line are running below the 0 axis, indicating that the current market is in a bearish trend. However, the MACD green bar chart begins to shorten gradually, indicating that the bearish force has weakened. If the DIF line continues to move upward and approach the DEA line and form a golden cross, it may bring a rebound. But if a dead cross is formed at the bottom again, it may continue to fall.
　
Bitcoin one-hour chart
　

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First, according to the Bollinger Bands indicator in the Bitcoin 1H chart, the current price of Bitcoin is above the middle track, and it is possible to test the pressure level near the upper track in the short term. If the price breaks through the upper track and is accompanied by a large trading volume, it may usher in a wave of rising prices. If the price cannot effectively break through the upper track, it may fall back to the middle track or even the lower track to find support.
　
Secondly, according to the KDJ indicator in the Bitcoin 1H level chart, the K-line value and the D-line value are both at high levels, and the J-line value has entered the overbought area. It may face the pressure of a correction in the short term. If the KDJ indicator forms a dead cross downward in the overbought area, then the possibility of a market correction can be verified.
　
Finally, according to the MACD indicator in the Bitcoin 1H level chart, the DIF line and the DEA line are about to stick together below the 0 axis, indicating that the overall market is still in a bearish trend. The MACD green bar chart is gradually shortening, and the red bar chart is beginning to appear, indicating that there is a chance of a rebound in the short term. If the DIF line and the DEA form a golden cross upward, there may be further upward momentum.
　
Comprehensive analysis shows that Bitcoin is still in a weak stage at the 4-hour level. Both MACD and KDJ show that short-selling power is dominant, but there is also a certain rebound potential, especially because KDJ is in the oversold range, and a short-term rebound may occur. Bitcoin shows a certain rebound momentum at the 1-hour level. The appearance of the red bar chart of MACD and the support of the middle track of the Bollinger Bands indicate that the rebound may continue. However, KDJ is in the overbought area, and it is necessary to be vigilant about the risk of callback.
　
In summary, the following suggestions are given for reference
　
Go long when Bitcoin pulls back to around 60400-60600, with a target of 61600-62000 and a defense of 60000.
　
It is better to give you a correct idea and trend than to give you a 100% accurate suggestion. After all, it is better to teach a man to fish than to give him a fish. Suggestions can make you money for a while, but ideas can make you money for a lifetime! What matters is the idea, the grasp of trends, the layout of the market and the planning of positions. All I can do is to use my practical experience to help you so that your investment decisions and business management will go in the right direction.
　　
Writing time: (2024-10-10,18:45)
　　　
(Text - Daxian Shuobi) Hereby declare: There is a delay in online release, and the above suggestions are for reference only. The author is committed to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks. He has been involved in the financial market for many years and has rich experience in real-time operations. Investments are risky, and you need to be cautious when entering the market. For more real-time market analysis, please pay attention to Daxian Shuobi, a Chonghao account, to discuss and communicate together. #CPI&PPI来袭，美国通胀升还降？