No matter who wins the election, can it change the upward trend of $BTC ?
November 4, 2024, BTC Trend Analysis: The news on the news front is just a temporary pain, only a momentary impact, it won't affect the overall trend. Regarding the election, whether Trump or Harris wins, it won't affect BTC's continued upward trend! If Trump wins, it will rise first, then fall, and continue to rise again. If Harris wins, it will fall first and then rise, it’s just a matter of time being extended. So, if there's a buying point below your established level during a pullback, be bold and buy.
$BTC Monthly Level: The monthly trend is bullish, but some say that if you keep seeing the BTC monthly level as bullish, aren't you just a dead bull? The monthly trend being bullish requires time and space; it’s not like saying it will rise today and it flies up. BTC is not your family business; you can't just say it will rise!
At the same time, I’ll make a quick observation: the last bull market and the current monthly trend are very similar; after a wave of pullback, it opened two consecutive bullish months, followed by a bearish month and then reached a new high.
Currently, after the BTC monthly pullback, it opened two consecutive bullish months; this month opened bearish and fluctuated, and next month it will challenge the historical high (future verification) (Figure 1).
BTC Weekly Level: The weekly chart hit the upper Bollinger Band and was suppressed, not continuing to rise. If the weekly chart does not form a top pattern, then the upward movement of the weekly trend is not complete. Currently, the weekly trend is oscillating around the middle of the Bollinger Band.
BTC Daily Level: The daily level has completed a full consolidation trend and a divergence pullback.
Currently, there are no buying or selling points at the daily level. What needs to be prevented is a push before the election combined with news to create a segment a, after selling segment two, then a pullback segment b forms a daily level segment A. (Figure 2)
4-Hour Level: It has completed a perfect consolidation trend of a+A+b+c with b and c not diverging, therefore the pullback in the 4-hour segment is limited.
Currently, the 4-hour level pullback is forming a rebound segment, and if the rebound does not break the high, it is a secondary sell. It is likely to form a segment in the 4-hour trend. (Figure 3)
$BTC 30-Minute Level: Last Friday, I mentioned a downward segment in the 30-minute level not entering the center to form a 30-minute three-buy, but now it seems that the 30-minute three-buy is not established. However, the internal movement of the downward segment in the 30-minute level is diverging, so there will be a rebound segment in the 30-minute level, and if it does not break the high, it is a 30-minute secondary sell. This means that the 30-minute level will have to follow a reverse trend type.
(Figure 4)
