Important Event: US Elections! How will it affect Bitcoin!!
BTC Morning Analysis:
Yesterday, the price of Bitcoin dropped to around 67400, with a high at 69360. The upward trend 📈 could not continue to break through, indicating that the pressure around 69500 is still quite strong. If it breaks above 69500 and continues upward, we will then look at the pressure point at 70500! Conversely, if the support at 68000 cannot hold, the possibility of dropping below 67000 is also quite high!
From a technical structure perspective, on the four-hour level, the price has been fluctuating downwards, and after a spike to the bottom around 67400 last night, it rebounded after hitting the bottom, with consecutive positive candles showing a clear recovery effect. In the short term, the price needs to consolidate after reaching the mid-track area, but in the auxiliary indicators, the MACD bearish energy bars show signs of contraction, and the KDJ three lines show a clear upward trend, indicating that there is still a demand for further increases in rhythm!
Morning Operation Suggestion:
Go long in the 68300-67600 range for Bitcoin, targeting the 70000 area, with a stop-loss space of 600 points. If 70000 does not hold, go short instead.
