Is BTC Really Preparing to Drop to 42k? Could the US Election Season Cause BTC to Form an 'M' Shape?
November 2024 is not just the month of the US election, but also a month that will test the confidence of the crypto community as BTC is facing the dangerous signs of an 'M' pattern – an image forecasted to potentially lead to a deep decline.
📊 Signs of Two Equal Peaks?
Currently, technical indicators show that BTC is stagnating around the current peak and is at risk of not surpassing the major resistance level. On the weekly chart, the formation of a double top pattern is raising concerns about the potential for a strong correction.
🗳 Could the US Election Break the Uptrend?
History has shown that significant political moments like elections often create pressure on markets. BTC, although a decentralized asset, is not entirely immune to this impact. The instability caused by the US election could disrupt the crypto market, and given the current situation, BTC returning to the 42k level is entirely possible.
🔥 What’s Your Opinion?
Will BTC continue to break new highs or turn around for a deep drop? This November is sure to be a memorable milestone! Please leave your thoughts and predictions in the comments!