Pause the operation and wait for the BTC trend to improve
At midnight yesterday, I saw the news that Trump was leading in the swing states. However, the short sellers still took advantage of the low liquidity to use the news to amplify the panic, smash the market, and blow up many contracts.
Bitcoin continued to fall last night following market sentiment. The downward trend before the election is still relatively healthy. On the one hand, there is the risk of uncertainty in the election results, and on the other hand, there is the liquidation of long positions.
This wave has fallen from the highest point of 73620, and has fallen by about 9.1%. At present, a strong signal has appeared at the 4-hour level, and around 66000 is the bottom support of this wave of retracement.
Currently, all stakeholders around the world are waiting for the US election, so please be patient.
It is meaningless to say anything else in the past two days. Now the world's focus is on the election, which has overshadowed other major macro events such as the FOM interest rate decision. Everything will revolve around the election.
The current price fluctuations have little reference value. The moment the election results come out is the beginning of the short-term victory or defeat.
I hope Trump can win as soon as possible and drive BTC to new highs!
Is it true that BTC will rise after Trump takes office?
Judging from the current sentiment of the crypto market, we can indeed see a large number of Trump supporters. And there is a strong consistency that if Trump can come to power, it will have a good boost to the price of BTC and there is a high probability of breaking new highs. After all, Trump publicly supports cryptocurrency and BTC, and has made a series of promises to guarantee support for BTC after his election.
So if Trump is elected, regardless of whether he can fulfill his promises, it will indeed give the cryptocurrency market good expectations. However, the most important thing about this expectation is that it is based on BTC. It may be good for other cryptocurrencies, such as firing Gary, but it is not an essential benefit.
Therefore, there is a high probability that Trump's coming to power will stimulate the cryptocurrency market, especially the rise of BTC.
Is it true that BTC will fall after Harris takes office?
Relatively speaking, Harris is likely to continue to implement the Democratic Party’s regulatory policy on cryptocurrencies during Biden’s term, which is not as radical as Trump’s. This may cause investors to worry and cause the price of BTC to fall. In fact, this is indeed very likely, but it may only work in the short term.
From a long-term perspective, the approval of BTC and ETH ETFs both occurred during the period when the Democratic Party was in power, especially the futures ETF, which was passed after Gary took office in 2021.
Therefore, if Harris is elected, some investors may indeed leave the market due to the emotional gap, but in the long run, even the Democratic Party will adopt a softer approach to cryptocurrencies.
Continue to hold the long-term, is there any opportunity to operate in the short-term?
Some brothers said that it might be a good opportunity to go short as soon as the election results come out. After all, if Trump is elected, the good news will turn into bad news, and if Harris is elected, it will be direct bad news, so it is best to go short as soon as the election results come out.
I personally think this idea is wrong, and quite outrageous.
On the contrary, I think you need to act based on the results. If you must do short-term trading, you can make a judgment the moment the election results come out. Different people elected should have different strategies. Often, taking action at this time is gambling. Spot may be better, but contracts, especially high-leverage contracts, will be very risky.
On the road of trading, it is difficult to win, but easy to die:
The moment you touch it, your life will enter purgatory mode. The difficulty of trading is that there is no model that will allow you to win all the time. You may lose confidence, but suddenly you will have a flash of inspiration for a few days, and then you will regret it. But if you choose to trade, there is no turning back.
The road of trading is full of ups and downs, and only those who do trading understand the bitterness involved.
