The Nasdaq 100 broke below key support, with both highs and lows trending downwards on the 4-hour chart. The sideways movement around 28100 only indicates a temporary easing of selling pressure; the downtrend is not yet over. The midterm elections are a short-term turning point. The market has already priced in a Democratic victory in the House of Representatives; the Senate outcome will determine the strength of any rebound. A divided Congress helps constrain fiscal expansion, eases interest rate pressures, and reduces policy uncertainty. Historically, after elections, US stocks typically benefit from reduced uncertainty, but the economy and earnings remain the core factors in final pricing. Before the results are announced, the Nasdaq will likely maintain a weak and volatile trend; after the results are clear, a rebound from oversold levels is highly probable, but an immediate reversal is unlikely. 27800-28000 is the current support level; holding above this level could lead to a rebound to 28400-28800; failure to recover 28800 carries the risk of a further pullback to 27600. BTC will likely follow the US stock market's recovery, but with less resilience than the Nasdaq. It's expected to fluctuate between 76,000 and 80,000. Only when the Nasdaq reclaims 28,800 and BTC breaks through 80,000 with significant volume will risk appetite truly recover. The election results are more likely to trigger a rebound, but they are unlikely to change the weak structure of the Nasdaq and BTC in the short term. In short, further consolidation is needed, and this week will see significant volatility, with repeated tests of bottom support levels.