With the midterm elections settled, the Nasdaq has stopped falling and rebounded. $BTC could be poised for a rally!
I expect a short-term rebound, with a chance of testing $80,000–$82,000 over the next few days, but I don’t expect an immediate breakout above $84,000.
On the daily chart, BTC found support around $76,000–$78,000. The KDJ has formed a golden cross in oversold territory, while the RSI6 is around 41.5, suggesting selling pressure has eased somewhat.
However, the MACD remains below the zero line, and the daily trend has yet to turn around. For now, this looks more like a rebound from oversold conditions.
In U.S. equities, the Nasdaq rose about 0.8% yesterday. Nasdaq 100 futures rebounded today after a sharp drop. Democrats won control of both chambers of Congress, prompting some initial concerns about tighter AI and crypto regulations, but risk sentiment subsequently recovered.
As election-related uncertainty gradually fades, conditions are becoming more favorable for a short-term BTC rebound. However, policy divisions will continue to limit its upside.
I’m more inclined to expect BTC to rebound and test $80,000 first, then challenge $82,000. $76,000 is an important support level; a drop below $75,000 would invalidate this rebound outlook.
Whether $82,000 can be broken on strong volume will determine if BTC can go on to challenge $84,000–$87,000 again.
It’s not wise to blindly open short positions at these low levels, but it’s also too early to say the market has fully turned bullish. The short-term outlook is bullish, but the medium-term trend still needs confirmation. For now, watch $82,000, and don’t get ahead of yourself by expecting a new major rally before a breakout.
I expect a short-term rebound, with a chance of testing $80,000–$82,000 over the next few days, but I don’t expect an immediate breakout above $84,000.
On the daily chart, BTC found support around $76,000–$78,000. The KDJ has formed a golden cross in oversold territory, while the RSI6 is around 41.5, suggesting selling pressure has eased somewhat.
However, the MACD remains below the zero line, and the daily trend has yet to turn around. For now, this looks more like a rebound from oversold conditions.
In U.S. equities, the Nasdaq rose about 0.8% yesterday. Nasdaq 100 futures rebounded today after a sharp drop. Democrats won control of both chambers of Congress, prompting some initial concerns about tighter AI and crypto regulations, but risk sentiment subsequently recovered.
As election-related uncertainty gradually fades, conditions are becoming more favorable for a short-term BTC rebound. However, policy divisions will continue to limit its upside.
I’m more inclined to expect BTC to rebound and test $80,000 first, then challenge $82,000. $76,000 is an important support level; a drop below $75,000 would invalidate this rebound outlook.
Whether $82,000 can be broken on strong volume will determine if BTC can go on to challenge $84,000–$87,000 again.
It’s not wise to blindly open short positions at these low levels, but it’s also too early to say the market has fully turned bullish. The short-term outlook is bullish, but the medium-term trend still needs confirmation. For now, watch $82,000, and don’t get ahead of yourself by expecting a new major rally before a breakout.
