Trump's probability of winning skyrockets, BTC intraday analysis 20141029 Tuesday
Upper resistance: 70900 ~ 71300
Lower support: 69400 ~ 69000
Trump held a high-profile campaign event at Madison Square Garden in New York, reigniting market confidence in his victory, causing his winning probability to soar, which boosted related stocks and Bitcoin significantly.
$BTC surged to 70,000, currently closing above the downward trend line, with the weekly chart forming a golden cross above the near-zero axis, and the daily moving averages in a bullish alignment. The 200-day moving average is starting to turn upwards, maintaining a bullish trend at a larger scale.
On Monday, the ETF continued to see strong net inflows, with current data showing a net inflow of $473 million, and the upward trend is expected to continue.
【Suggestion】Focus on going long near the technical support level during pullbacks, and move the stop-loss for held long positions to secure profits.
