Pause operations and wait for BTC trend to improve

Last night, I saw the news that Trump is leading in swing states. However, the bears still took advantage of the low liquidity to amplify panic with the news and heavily smashed the market, liquidating many contracts.

Bitcoin continued to decline last night following market sentiment. The downward trend before the election is still relatively healthy; on one hand, there is the risk of uncertainty regarding the election results, and on the other hand, there is the liquidation of long positions.

This wave has dropped about 9.1% from the peak of 73620. Currently, there is a strong signal at the 4-hour level, with around 66000 being the bottom support for this pullback.

Currently, all relevant stakeholders globally are waiting for the U.S. election, so everyone should be a bit more patient.

In the past two days, discussing anything else has become meaningless;* now the focus of the whole world is on the election, which has overshadowed other major macro events like the FOMC interest rate decision.* Everything will revolve around the election.

The current price fluctuations have almost no reference significance; the moment the election results come out is when the short-term victory or defeat begins.

I hope Trump can win quickly and drive BTC to new highs!

Will BTC rise after Trump takes office? Is this true?

From the current sentiment in the crypto market, we can indeed see a large number of Trump supporters. There is also strong consistency indicating that if Trump can take office, it will have a good boosting effect on BTC's price, with a high probability of breaking new highs, as Trump openly supports cryptocurrencies and BTC, making a series of commitments to ensure support for BTC after being elected.

So if Trump is elected, regardless of whether he can fulfill his promises, it will indeed provide a good expectation for the cryptocurrency market, but this expectation is primarily based on BTC. For other cryptocurrencies, there may be benefits, such as getting rid of Gary, but it is not fundamentally beneficial.

Therefore, Trump's election does have a high probability of stimulating the cryptocurrency market, especially the rise of BTC.

Will BTC fall after Harris takes office? Is this true?

Relatively speaking, Harris is likely to continue implementing the regulatory policies on cryptocurrencies established during Biden's administration, which are not as aggressive as Trump's. This may raise concerns among investors, leading to a decline in BTC prices. In fact, this is quite possible, but it may only have a short-term effect.

From a long-term perspective, the approval of BTC and ETH ETFs occurred during the Democratic administration, especially the futures ETF, which was approved after Gary took office in 2021.

So if Harris is elected, it is indeed possible that the emotional gap will lead some investors to exit, but in the long run, even the Democratic Party will adopt a more moderate approach to cryptocurrencies.

Should I continue to hold long-term, or are there short-term trading opportunities?

Some brothers say that opening a short position immediately after the election results come out could be a great opportunity, as if Trump is elected, it will turn into a negative for the market, and if Harris is elected, it will be directly negative, so shorting right after the election results.

I personally think this line of thinking is incorrect and quite absurd.

Instead, I believe we need to act based on the results. If you must trade short-term, you can make judgments the moment the election results come out; different candidates should have different strategies. Often, taking action at this time is like gambling; spot trading may be better, but contracts, especially high-leverage contracts, carry significant risks.

The path of trading is difficult; seeking victory is hard, but seeking failure is easy:

The moment you engage, you enter a purgatory mode in life. The difficulty in trading lies in the fact that no single strategy will allow you to win continuously. You may lose confidence, then suddenly have a moment of clarity, chase in, and regret it later, but once you choose to trade, there is no turning back.

The ups and downs of trading are understood only by those who trade.

That's all for this article. If you like it, please give a follow and a thumbs up~

In the crypto industry, if you want to seize the next bull market opportunity, you need to have a quality circle; everyone can band together for support and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry.

If you want to band together for support or have questions, feel free to join us—WeChat Official Account: You Bi Zhi Qing Nian

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