Trump's election victory probability surges, BTC intraday analysis 20141029 Tuesday
Upper resistance: 70900 ~ 71300
Lower support: 69400 ~ 69000
Trump held a high-profile campaign event at Madison Square Garden in New York, reigniting market confidence in his election victory, with the probability of winning soaring, boosting related stocks and Bitcoin significantly.
$BTC surged to 70,000, currently sitting above the downtrend line, with the weekly chart forming a golden cross above the near-zero axis, and the daily moving averages in a bullish arrangement, the 200-day moving average starting to turn upwards, maintaining a bullish trend at a higher level.
On Monday, the ETF continued to see strong net inflows, with current data showing a net inflow of $473 million, and the upward momentum is expected to continue.
[Recommendation] Focus on going long near the technical support level on pullbacks, and move the stop loss for existing long positions to secure profits.
