SOS $BTC

Warning about BTC in the next few weeks.

- BTC is approaching the old peak of 70-73k. But the price running before the news is something that everyone has heard of.

- The driving force for BTC's price increase comes from the presidential election when both the Republican and Democratic parties show preferential policies for BTC. In addition, the financial market is leaning towards the Fed continuing to lower interest rates, causing a large amount of USD from the US to flow into financial markets.

- What will happen when the election is over and the Fed announces a rate cut? That will definitely be a strong bounce. But usually before a strong increase, it will be very easy for liquidity to be wiped out by the Long side.

- According to the schedule, the US presidential election is on November 5 and the FOMC meeting is on November 6-7, which is in the second week of November.

=> there is a possibility of a short-term bloodbath in the market when these two news are released only a few days apart in a week. Because the bookies always know how to kill long-short to bring benefits to themselves.

- There are 3 milestones to pay attention to if this event occurs. 62k, 60k vs 58k. Those are 3 important milestones if the bookies decide to kill Long.

PS: This is just a personal opinion and absolutely does not encourage shorting BTC. We only look for Long BTC points when the market is up and short BTC when the market is down. Absolutely do not go against the trend until the market changes. Do not predict the top and bottom. Surfing the waves will be safer than going against it.

No one wants to fight alone against a crowd that is screaming madly. That's not a very smart thing to do.