The Democrats took both houses, and BTC made an accelerated move this morning. It just barely dipped below 76k before bouncing back up—showing very strong on-chain support. It’s now back to fluctuating around 77k.
The short-term shakeout has been pretty intense, with several swings up and down over the past couple of days. But I don’t think the overall direction will change; the weekly chart has already formed a very clear reversal structure.
So the overall plan is still to scale into long positions around 76–77k and first look for a breakout above 79k! Once the recent negative news is fully priced in, BTC will challenge a new short-term high again. November will definitely close green.
The short-term shakeout has been pretty intense, with several swings up and down over the past couple of days. But I don’t think the overall direction will change; the weekly chart has already formed a very clear reversal structure.
So the overall plan is still to scale into long positions around 76–77k and first look for a breakout above 79k! Once the recent negative news is fully priced in, BTC will challenge a new short-term high again. November will definitely close green.
