BTC view heading into U.S. Election (60days trade)
Bitcoin on daily timeframe analysis heading into U.S. Election is one of the most important trade in these 60days for crypto folks.
A simple but most powerful indicators should read that we're heading into previous resistant of 64,500 supply zone - expect a small pullback with Stochastic RSI at overbought to 61,000-60,000 (.618 FIB with 3 EMAs support).
Fear is out of the market, Fed lower the rate, "Risk in On" so we should push through after the pull back to hit point (3) at previous swing high at 68,000. Before the bears step-in at resistant and most investor would de-risk into election, hopefully we could turn 63,500 into support at (4)
*If Trump won the election - a clear view is massive confidence back to the market and we should easily see ATH break once again. If Kamala won, then GOD bless us all at 55,000.
Although we do not know outcome of the election, de-risk and sit on the hands before the result came out seem like the best trade.
A simple but most powerful indicators should read that we're heading into previous resistant of 64,500 supply zone - expect a small pullback with Stochastic RSI at overbought to 61,000-60,000 (.618 FIB with 3 EMAs support).
Fear is out of the market, Fed lower the rate, "Risk in On" so we should push through after the pull back to hit point (3) at previous swing high at 68,000. Before the bears step-in at resistant and most investor would de-risk into election, hopefully we could turn 63,500 into support at (4)
*If Trump won the election - a clear view is massive confidence back to the market and we should easily see ATH break once again. If Kamala won, then GOD bless us all at 55,000.
Although we do not know outcome of the election, de-risk and sit on the hands before the result came out seem like the best trade.
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