Coin Hunter: 11.3 No time to explain, the election is not the turning point of the Bitcoin bull market.

CN
20 days ago

Countdown to the election, the results will be announced by tomorrow noon at the latest. Don't bet on Trump taking office and Bitcoin soaring.

I really think there are issues with Trump's campaign team. They are now quickly sending people to various swing states to learn how to howl like a fox. Great America, King Trump, and by the way, throw a one-eyed stone man into the Mississippi River with the inscription: "Do not say the stone man has one eye, stirring the Mississippi River to rebel against the world." If they lose, they will settle in Houston, call out from a high place, "Do nobles have any kind?" Texas's million rednecks will clear the court. If they win, they will enter the White House and reclaim the throne; if they lose, they will still hold Texas, and it won't be a loss for the illustrious emperor.

Three things, when connected, make the situation very clear.

Last Wednesday, Harris won in the swing state, and her winning probability surpassed Trump's, leading to a continued decline in the US stock market.

Last Friday, the non-farm payroll data deviated from the usual fraudulent style, with only 12,000 jobs added.

On Monday, the White House passed an emergency bill allowing federal troops to control riots without government authorization based on the situation.

From the movements in the US stock market, it seems that Trump's faction has sensed the risk of losing and wants to escape.

From the non-farm data, the previous fraud was to win votes at all costs, clean up the mess after winning, and leave the mess for Trump if they lost. Logically, unless the Democrats believe they are guaranteed to win, why would they self-destruct by releasing such low employment data during this sensitive election phase? Therefore, from the perspective of non-farm data, the US bureaucratic system also acknowledges that Harris is set to take office, and now they need to start cleaning up the mess from the previous fraudulent data.

From Monday's emergency bill, the Democrats also foresee that after the election, Trump might cause trouble, given the previous experience (the last election loss led to rednecks surrounding Capitol Hill).

Conclusion: Harris will take office, and the crypto market will crash, leading to chaos.

View on Bitcoin's market during the election phase—

In previous articles, including over the weekend, I mentioned a key point: during the election phase, the market will revolve around 68,800. Both bulls and bears can use this standard point to choose their operations. On Monday, Bitcoin jumped around 68,800, getting battered, with a clear intention: the market is about to start, not giving you a comfortable position to operate.

My weekend article also focused on this point, advising everyone to short at 68,800, and to continue shorting if it breaks above 69,200 and then falls back.

Combining the weekend's market, it rebounded from the support position of 67,500, then on Monday, it oscillated around 68,800 without accelerating, and on Tuesday morning, it accelerated through 67,500 and rebounded. Currently, all short-term supports and resistances have failed, and the market has entered a stage of losing control. The purpose of this loss of control is also to prevent retail investors from participating.

Since we understand that the market's intention is to exclude retail investors, today we need to find positions that allow retail investors to operate, and this position will definitely be broken.

Currently, the visible position is the downward trend line resistance at 69,200. This is the last point where shorts can be made in the short term.

Subsequent market prediction:

If the subsequent market is to decline unilaterally, then tonight to tomorrow, Bitcoin must break above 69,200 to trigger stop losses on short positions, but it will not reach 71,600. Because 71,600 is a reversal signal point from the previous drop, if it can go up to that level, the area between 71,800-72,100 is the top range, where many short positions will enter, directly trapping them.

So now the thought process is clear: it will break 69,200 but will not touch 71,600. We can choose to operate in the middle position.

Short at 70,500-70,800, with a stop loss at 71,600. Once it reaches 71,800, no more shorts should be made.

If the market does not give the opportunity to short at 70,500-70,800, then after breaking above 69,200, we will wait for it to drop back to 69,200-68,800 to enter short.

Lastly, I want to mention that don’t think about bottom-fishing Ethereum. The bottom for Ethereum is too obvious. You are still fantasizing about Ethereum catching up, giving a chance for a rebound, and hope for bottom-fishing, but the result will only bury those who try to bottom-fish.

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