$BTC

BTC is back in an awkward position.

BTC's previous operations have suggested short positions, but the recent trend remains in a balanced state, hovering around 68500. For short-term operations, it’s generally necessary to open low-leverage short positions around 69000 and low-leverage long positions around 68000, and a rebound is expected near the support level of 67500.

From a long-term investment perspective, the three-top structure on the weekly and daily charts has not ended, but it is still within the fifth wave. Whether it can complete is beyond doubt. Despite the significant impact of the recent U.S. election on BTC's movement, institutional investors still need to make profits. Continuous pumping and dumping align with institutional expectations, rather than pure pumping. Therefore, when investing, stop-loss levels should generally be controlled within a relatively large range. For instance, if opening a short position at 70000, the stop-loss should be around 715. If opening a long position at 68000, the stop-loss should be around 665.

In terms of short-term trends, wave c has completely ended. Whether an extended wave can occur is subject to discussion. There will likely be significant fluctuations around the results of the U.S. election, whether it rises first and then falls or falls first and then rises largely depends on the election results. However, my personal suggestion is to focus on short positions; if 69500 is not broken, one can short.