Views on Bitcoin Market During the Election Phase——

In previous articles, including over the weekend, I mentioned a key point: during the election phase, the market will focus on 68800, a level that both bulls and bears can use to make trading decisions. On Monday, Bitcoin bounced around 68800, creating a lot of volatility, with a clear intention to start the market, not allowing for comfortable trading positions.

My weekend article also focused on this point, advising everyone to short at 68800, and to continue shorting if it breaks above 69200 and then drops back.

Combined with the weekend market, which rebounded from the support level of 67500, and then Monday saw 68800 being pierced and fluctuating without acceleration, Tuesday early morning saw it accelerate through 67500 before rebounding. Currently, all short-term support and resistance levels have failed, and the market has entered a stage of loss of control. The purpose of this loss of control is also to prevent retail investors from participating.

Since we understand that the market's intention is to exclude retail investors, today we need to find out which levels still allow retail investors to trade, and those levels will definitely be broken.

The current visible level is the downward trendline resistance at 69200; this is the last point for shorting in the short term.

Future market predictions:

If the market is going to decline unilaterally, then tonight until tomorrow, Bitcoin needs to break above 69200, triggering stop-losses for short positions, but it won't reach 71600. This is because 71600 was a reversal point for the previous drop, and if it can go up to this level, the range above 71800-72100 is the upper limit, where a lot of short positions will enter, resulting in them getting trapped.

So now the thought process is clear: it will break 69200 but won't touch 71600. We can choose to operate at the intermediate levels.

Short at 70500-70800, with a stop-loss at 71600. Once it goes above 71800, no more shorting allowed.

If the market doesn't give the opportunity to short at 70500-70800, then after breaking above 69200, we will wait for it to drop back to 69200-68800 to short.

Lastly, a quick note: don't think about bottom-fishing Ethereum; the bottom for Ethereum is too obvious. You might still be fantasizing about Ethereum catching up, giving a probability for a rebound, and hope for bottom-fishing, but the result will only trap those who try to catch the bottom.