The Eve of Bitcoins Soaring US Presidential Debate Sparks Cryptocurrency Surge

CoinNews.com reports:
Bitcoin surged to a high of $62,212 in the short term, before sliding slightly, while the US dollar index rose back above 106. In the first presidential debate on television, Republican presidential candidate Donald Trump was perceived to have the advantage. According to Polymarket data, Trump’s chances of winning quickly surpassed 68%.
Bitcoin and the US dollar rose during the Asian trading session. Incumbent President Biden stumbled during the early stages of the debate, which may intensify concerns about his ability to defeat Trump in the November election.
Analysts have been predicting what will happen next.
Satoshi Flipper wrote, “A Trump victory will push the S&P 500 to 6,000 points and Bitcoin to $250,000. In my opinion, this will happen. America will never forgive the terror brought upon American families by Biden’s border policies. And the 100 million cryptocurrency users will never forgive Gary Gensler’s four years of thunder against us. Biden is no match for Trump.”
Bitcoin Technical Analysis
CMTrade stated that Bitcoin’s RSI is below 50, the MACD is positive and below its signal line, and the MACD must cross its zero line to expect further decline.
In addition, the price is trading above its 20-period moving average of $61,553 and its 50-period moving average of $61,164.
“Our pivot is $62,290 and our preferred target is $59,630.”
“An alternative scenario is an upward breakthrough of $62,290, which would point to $63,250 and $63,830.”
BTC slightly rose to the $62,000 level. Taking a step back and looking at the monthly chart, it is likely to close lower in June.
Let me pull out the chart from three months ago for you to see:
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At that time, when I drew this chart, the strong signal of an SOS had just emerged. Now, the consolidation and washout from March to June have indeed added a few monthly lines back and forth in the $60,000-$70,000 range, thus drawing the resistance line of the Wyckoff pattern’s oscillation “spring line” (highlighted in the red box in the image below).
[Image]
When will dawn arrive? It won’t be tomorrow or immediately, but it won’t be slow either.
During the consolidation and washout phase, if it rises, we have enough chips to enjoy the appreciation, and if it falls, we have sufficient cash flow to add positions during the dip. Thus, we can stand undefeated.
Let the surrenderists tremble before our firm holding and continuous accumulation! Our unwavering efforts will steadily achieve victory after victory. And these continuous victories will surely bury the surrenderists.