Can Bitcoin (BTC) soar to $70,000 by relying on the benefits brought by Trump?
(Strategy Editing)
A big surge is brewing
1. BTC, ETH and the altcoin index are all in the process of long, medium and short three moving averages being dense. After the denseness, a large wave of trend fluctuations will often form. The last time the moving averages were dense was at 28,000
2. There may be a retracement in the next week or so. Pay attention to the 59,000-62,000 range. This is the last time to pick up people at the station before the violent train departs
From the data of the last 24 hours, the turnover of BTC on the chain has dropped by 20% compared with the previous day, but the main force of the turnover is still the investors who bought the bottom in the past week, while the turnover rate of earlier investors is less than 7%. In addition, a large number of chips have been added from $64,000 to $65,500. Now, let alone the destruction of the dense area, the dense area is more solid.
The main force of the current large-scale purchases should still be short-term investors. These investors are very sensitive to prices, and most of them will not hold positions for more than 48 hours. The rise of BTC has exceeded 10% in two days, and the current turnover should be the most concentrated time.
The current market is still dominated by emotions. Before there is actual good or bad information, the probability of wide fluctuations is still very high. During this period, more attention should be paid to the flow of BTC spot ETFs, because it represents the emotions of American investors.
For the market, there is no need to panic at present, because the decline of US stocks has led to a decline.
The Trump incident boosted the morale of Trump's supporters, making his election as the US president almost certain. For the currency circle, Trump is generally regarded as friendly to cryptocurrencies, so Bitcoin has risen from 58k to 65k, which has also led to a comprehensive rebound in altcoins.
