Bitcoin the bellwether to watch as US election results roll in
Bitcoin trades lower this morning at $67,807 (-1.60%). In the early part of this week, the focus has been on the final set of US election polls, revealing that pro-crypto presidential candidate Trump's election lead has evaporated.
BTC appears to have picked up on that shift in sentiment in the middle of last week, as it heads for a sixth consecutive session of losses. This makes it a good bellwether to watch tomorrow as the vote counting commences.
Technically, Bitcoin needs to see a sustained break above resistance at $74,000 to confirm the uptrend has resumed towards $80,000. Aware that a sustained retreat below support at $65,000 signals that last week's break higher has failed and that Bitcoin has returned to the safety of its seven-month trend channel, viewed on the chart below.
BTC appears to have picked up on that shift in sentiment in the middle of last week, as it heads for a sixth consecutive session of losses. This makes it a good bellwether to watch tomorrow as the vote counting commences.
Technically, Bitcoin needs to see a sustained break above resistance at $74,000 to confirm the uptrend has resumed towards $80,000. Aware that a sustained retreat below support at $65,000 signals that last week's break higher has failed and that Bitcoin has returned to the safety of its seven-month trend channel, viewed on the chart below.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.