Zhou Yanling: The Results of the 11.6 Election Are About to Be Announced, Bitcoin Is Expected to Continue Rising in the Medium to Long Term
From the current situation, Trump continues to maintain a leading vote count, and the time for the final results to be announced is getting closer. At the same time, market risks are also increasing. Bitcoin has surged strongly, breaking through 75,000 and setting a new historical high. Based on the current expectations, if Trump indeed wins, it will certainly continue to boost the price of cryptocurrencies. However, the previous period of rising prices was already anticipating this outcome, so today we must also be cautious of a situation where good news turns into bad news. If ultimately, Haha Sister makes a comeback, the market will definitely present a different "scene," with increased risk aversion being the first to emerge. Personally, Yanling has always been optimistic about Trump's victory, but regardless of who ultimately wins, it is beneficial for the cryptocurrency market in the long run, as it is highly unlikely that the Federal Reserve's interest rate cut cycle will change or end in the short term, which is the most effective support.
This Friday also coincides with the first monetary policy meeting after the election and the speech by Federal Reserve Chairman Powell. The market generally expects a 25 basis point rate cut at this meeting, which would be beneficial for cryptocurrency prices if it meets or exceeds expectations. Cryptocurrency enthusiasts should pay attention to this.
From a technical perspective, Bitcoin is currently in a strong upward phase. The current MACD histogram has turned positive, and the DIF line has crossed above the DEA line, indicating a strengthening of bullish momentum in the short term. The RSI value is 68.48, close to the overbought range, so caution is needed for potential pullback risks, but the overall trend remains strong. Both EMA7 and EMA30 have been broken, with EMA7 crossing above EMA30, and EMA120 has also been broken, indicating a bullish short-term trend and further confirming a medium to long-term bullish outlook. In terms of trading volume, today's volume has significantly increased, showing heightened market activity. Compared to the previous period where trading volume was relatively stable without significant fluctuations, this rise indicates some capital momentum, which is also related to the election. Therefore, in terms of operations, everyone should be cautious of risks and guard against the risk of large capital withdrawals. If you have previously entered at lower levels, you can reduce your position and hold. If you haven't entered at a good position, it is not advisable to blindly follow the trend and climb higher, as there is a risk of being bitten back; safety first.
11.6 Bitcoin Trading Strategy:
Buy at 73,000-73,600, stop loss below 72,500, target 74,800-75,300, continue to break upwards looking at around 77,000.
Light short at 75,500-74,900, stop loss above 76,000, target 73,600-73,000, continue to break down looking at around 72,000.
11.6 Ethereum Trading Strategy:
Buy at 2,540-2,580, stop loss below 2,500, target around 2,650, continue to break upwards looking at 2,680-2,720.
Short at 2,730-2,690, stop loss above 2,770, target 2,610-2,580.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on unblocking positions, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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