Guys,
I can't help but question all this bullish excitement. If you were institutional investors, would you buy at high prices or cut prices to liquidate retail investors and then buy all the capital at a much lower price? The principle “buy low, sell high” applies here. Regardless of technical analysis, this is pure logic. While Biden may not be in the running, Harris has a better chance of beating Trump.
Waiting for a breakout of the continuous 1-hour bearish trend may not be the smartest strategy. There's nothing to soften below the last significant red wick, and the lowest point of the flag leg doesn't look promising either. Remember: if the price starts to fall, there will undoubtedly be weak hands, especially those who received their BTC from Mt. Gox, which will further strengthen the bearish momentum.
Additionally, there is a gap between $61k and $58k on the CME. I don't claim to be a successful trader, but seeing imbalances below and significant liquidity just above $50k doesn't make me particularly bullish at the moment.
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