The U.S. election will officially arrive at 11:00 AM local time on November 5. Many market investors are betting on Trump's election, leading relevant concept stocks and Bitcoin to show a rising trend. However, as potential returns gradually decrease and risks and returns continue to worsen, everyone is beginning to take profits gradually. On the other hand, the U.S. stock market also performed poorly last week, which may be one of the reasons for the market's decline. However, DaXian believes that post-election market momentum is likely to drive the market higher.

　　　Additionally, there is a major announcement this week. The Federal Reserve will announce the interest rate decision for November on the 8th of this month, which may also lead to significant fluctuations in the global market. Currently, the market believes that the probability of a rate cut of 0.25% this month has risen to 98.9%, with only 1.1% believing that the Fed will maintain the interest rate.

　　In terms of cryptocurrency, Bitcoin reached a low of $68,800 in the early hours of the 2nd and has been continuously challenging to return above $70,000, but the upward momentum is not strong. On the evening of the 3rd, around 11:30 PM, it hit a new low of $67,478 this month. As of the time of writing, the price of Bitcoin has rebounded, quoted at $69,164, with a nearly 24-hour decline narrowing to 0.35%.

　　Bitcoin 4-hour chart

　

　　Firstly, based on the Bollinger Bands indicator in the 4H chart of Bitcoin, the current price is close to the middle track of the Bollinger Bands and is attempting to break through to the upper track. The upper and lower tracks of the Bollinger Bands are converging inward, indicating that future market volatility will decrease. If the price can effectively stabilize at the middle track, it will continue to break through to the upper track. If it fails to stabilize effectively above the middle track, it may still pull back to the lower track for support.

　　Secondly, based on the KDJ indicator in the 4H chart of Bitcoin, the KDJ three-line values have formed a golden cross at a low level and have not yet entered the overbought area, indicating that the price is expected to rise further in the short term.

　　Finally, based on the MACD indicator in the 4H chart of Bitcoin, both the DIF line and the DEA line are running near the 0 axis, with signs of a golden cross forming as both lines curve upward. At the same time, the MACD green histogram is gradually shortening, indicating that the downward momentum is weakening. If the DIF line and DEA line form a golden cross upward, accompanied by the MACD histogram turning from green to red, then the price of Bitcoin will experience a significant rebound.

　　Bitcoin 1-hour chart

　

　　Firstly, based on the Bollinger Bands indicator in the 1H chart of Bitcoin, the current price is above the upper track of the Bollinger Bands, indicating a strong upward trend, but there is also the risk of overbuying. The opening of the Bollinger Bands channel has expanded, indicating that market volatility is increasing, and significant fluctuations may occur in the short term.

　　Secondly, based on the KDJ indicator in the 1H chart of Bitcoin, the K value and D value are already at a high position, and the J value is also in the overbought area, indicating that there may be pressure for a correction in the short term. If the KDJ forms a death cross at a high position, there may be a correction in the short term; if the KDJ three-line values continue to rise, it indicates that the buying power is still strong and the price will rise accordingly.

　　Finally, based on the MACD indicator in the 1H chart of Bitcoin, the DIF line has just crossed above the DEA line, forming a golden cross, which is a clear bullish signal. At the same time, the MACD red histogram is increasing, indicating strong bullish momentum, and the price is expected to recover the declines of the previous days.

　　Comprehensive analysis shows that in the 4H level of Bitcoin, the price is currently in a correction phase after experiencing an increase. From the position of the middle track of the Bollinger Bands, this is a key resistance level. If it can effectively stabilize at the middle track, there will be an opportunity to challenge upward again. In the 1H level of Bitcoin, the breakthrough of the upper track of the Bollinger Bands and the golden cross of the MACD support the price's upward movement. However, since the KDJ is in the overbought state, attention should be paid to the risk of a correction that may occur in the short term.

　　In summary, DaXian offers the following suggestions for reference.

　　Long positions around $68,900 for Bitcoin, target $69,900-$70,400, with a stop loss at $68,500.

　　Instead of giving you a 100% accurate suggestion, it is better to provide you with the correct mindset and trend. After all, teaching someone to fish is better than giving them fish. Suggestions may earn you temporarily, but a mindset can earn you a lifetime! Focus on the mindset, grasping the trend, and planning the market and positions. What I can do is use my practical experience to help everyone, guiding your investment decisions and management in the right direction.

　　Drafting time: (2024-11-04, 05:50)

　　(Wen-DaXian Says Coin) hereby declares: The online publication has a delay, and the above suggestions are for reference only. The author is dedicated to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks, with many years of experience in the financial market and rich practical operation experience. Investment carries risks; proceed with caution. For more real-time market analysis, please follow DaXian Says Coin for discussion and exchange.#美国大选后行情预测