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XAU/USD : Gold Set for a Move as U.S. Election Sparks VolatilityBy analyzing the #Gold chart in the 1-hour timeframe, we can observe several reactions to the demand levels we identified. Yesterday, we saw an initial bounce from the $2733 zone, with a 70-pip rise taking it close to $2740. Later, this morning, the price dipped below $2730 and reached the $2727 zone, where it was met with strong demand, resulting in a sharp increase of over 200 pips up to $2745. Currently, gold is trading around $2742, and I expect it to soon make another move toward the liquidity pools above $2745 and $2748. After that, keep an eye on the price reaction at $2752. Note that today is the U.S. election day, and the market may experience significant volatility. Be cautious with your trades! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDLong
by ArmanShabanTrading
2
Nasdaq (NDX): US Election Hype vs RealityThe US Elections are just around the corner – a global event that everyone is eagerly anticipating. But the big question remains: Will the election results really have a massive impact on the financial markets? Or, at the end of the day, does it even matter who wins – Kamala Harris or Donald Trump? 🤔 We shared our view months ago: It doesn’t matter who takes the presidency. We firmly believe that a major market correction is inevitable, regardless of the election outcome. The timing? Impossible to predict. But one thing is clear: the warning signs are everywhere. From rising unemployment and skyrocketing debt to relentless inflation, the economic data paints a bleak picture, reinforcing our thesis. Looking at the weekly NASDAQ:NDX chart, a drop of over 20% could definitely happen. This isn’t something to ignore. But even in the middle of this chaos, there is a golden opportunity: A significant downturn could present a rare chance to accumulate high-quality assets at very cheap prices. This could be the moment to build a perfect portfolio, positioning yourself for long-term gains when the market rebounds. So, how should you approach this? See the upcoming volatility as an opportunity, not a threat. Secure your open positions, stay adaptable, keep an eye on the markets, and buy strong assets undervalued. And most importantly: Sit back and enjoy the show that both the markets and the political landscape are about to deliver! 🍿
NASDAQ:NDXShort
by freeguy_by_wmc
2
#Altcoin run is programmed in the medium term.2025 will be unique for #Alts and #Bitcoin The impact of the elections in the US on financial markets can be significant. A win by #Trump or Harris could have different effects in terms of economic policies and market expectations. If Trump wins, it is possible that prices will rise even more due to high inflation expectations in the markets. If #Harris wins, it is expected that the #Fed will continue with its current monetary policies, so although there will be price fluctuations in the short term, it is possible that the bull run will continue in the long term. It should not be forgotten that the election results are not only related to short-term effects, but also to medium and long-term economic fundamentals and central bank policies. 🤝
CRYPTOCAP:TOTAL3
by EtherNasyonaL
1
How the U.S. Election Could Impact USD and EUR/USD Trading"As the U.S. presidential election approaches, it’s time to consider how it might impact our trading strategies, particularly with the U.S. dollar and EUR/USD. Political shifts bring market volatility, so let’s break down how each outcome could influence the dollar and the EUR/USD pair. Election Outcomes and Market Impact 1. If Democrats Win: A Democratic victory could weaken the dollar, as policies may lead to lower inflation and reduced real interest rates. This scenario might push the EUR/USD pair higher, with potential targets around 1.1300–1.1850. For traders, this could mean a favorable environment to consider EUR/USD gains. 2. If Republicans Win: On the other hand, a Republican win might initially strengthen the dollar, thanks to expected trade policies and rising interest rates. However, this strength could be short-lived. Long-term factors may introduce volatility, potentially giving the euro a chance to regain ground against the dollar. Key Levels to Watch in EUR/USD From a technical standpoint, keep an eye on resistance levels from 1.1275 to 1.1750 for potential bullish moves, while support around 1.1000 and a critical level at 1.0900 could indicate a downturn. Combining these levels with election news can help you make informed trade adjustments. How to Trade Before, During, and After the Election Leading up to the election, watch for narrowing polls, as this could introduce uncertainty and increased volatility. During the election itself, expect the market to react strongly—prepare for a Trump win to potentially strengthen the dollar and a Harris victory to have the opposite effe
by habib75rajabi
US Presidential Election Forex Analysis5th November US Presidential Election DXY: Could retest 103.50 area, and rebound up to cover gap and up to 104.30 (if price breaks 103.40 could trade down to 102.90) NZDUSD: Sell 0.6040 SL 20 TP 80 AUDUSD: Sell 0.6635 SL 20 TP 60 (trend following) Counter trend opp: Buy 0.6670 SL 30 TP 90 GBPUSD: Sell 1.2980 SL 40 TP 130 EURUSD: Buy 1.0930 SL 30 TP 70 USDJPY: Ranging between 151.70 and 153.40, looking for breakout potential following major news USDCHF: Buy 0.8650 SL 20 TP 55 USDCAD: Sell 1.3870 SL 20 TP 50 Gold: Needs to break 2730 to trade down to 2710 and then possible rebound
TVC:DXY
by JinDao_Tai
Bitcoin will be the winner of the US electionsAn interesting relationship can be observed between #Bitcoin 's past halving cycles and the US presidential elections. #Halving is generally known as an event that starts an uptrend by reducing the supply of $BTC. It is known that immediately after the US presidential elections, there was a general relief in the markets and as the uncertainty disappeared, investors turned to riskier assets. In this case, the removal of uncertainty in the post-election period, regardless of the candidates, will create relief in the market. With the effect of this relief, investors will turn to higher risk assets, triggering a bull run process. An asset with limited supply, such as Bitcoin, will also be positively affected by this process.
INDEX:BTCUSD
by EtherNasyonaL
NASDAQ - Nasdaq will lose the 20,000?!The index is located between EMA200 and EMA50 in the 4H timeframe and is trading in its ascending channel. If the range of 20,000 is broken, we can witness the continuation of the decline If the index rises towards the two specified supply zones, you can look for Nasdaq sell positions up to the bottom of the ascending channel The U.S. jobs report for October indicated that only 12,000 new jobs were added to the labor market, significantly below expectations. This drop was primarily due to strikes, particularly at Boeing, and the impacts of recent storms. In October 2024, 512,000 workers were unable to work due to hurricanes Helen and Milton, much higher than the historical average of 47,000. These conditions led to a slowdown in job growth for October. The unemployment rate remained at 4.1%, but revised data from previous months show a decline in job growth. Goldman Sachs analysts predict that the U.S. stock market will grow by the end of the year, driven by various factors. The end of October marks reduced sales by investment and pension funds, which could support stock price growth. This outlook contrasts with the consensus on Wall Street, which expects stock prices to decline after the presidential election. However, Goldman Sachs believes that stock market growth will continue under current conditions. A survey by the Conference Board shows that 51.4% of American consumers expect stock prices to rise over the next 12 months. This represents the highest optimism level recorded since the survey began in 1987, although experts remain skeptical. Warren Buffett continued selling a significant portion of his Apple shares in the third quarter of 2024, selling nearly a quarter of his holdings. This move reduced Berkshire Hathaway’s stake in Apple to 300 million shares, representing a 67.2% decrease from the end of the third quarter last year. Despite these sales, Berkshire Hathaway’s cash reserves have reached $325.2 billion. Buffett indicated that some sales might be due to tax reasons, but the volume of sales suggests other factors may also be at play. Interestingly, Berkshire did not purchase any stocks during this period. Next week’s U.S. election will be in the spotlight, with market participants in a state of uncertainty as it is unclear whether conclusive results will be announced immediately after polls close on Tuesday night. Meanwhile, central banks will also be in focus; the Reserve Bank of Australia will announce its monetary policy on Tuesday, followed by the Bank of England and the Federal Reserve on Thursday. Additionally, markets await the release of the U.S. ISM Services PMI on Tuesday, weekly jobless claims data on Thursday, and the preliminary University of Michigan consumer sentiment index on Friday. These data points could significantly influence market direction during this crucial week. Nick Timiraos, an economic analyst from The Wall Street Journal, believes the U.S. jobs report will not significantly alter expectations for a 0.25% rate cut by the Federal Reserve. JPMorgan analysts suggest that if Trump wins the election, more expansionary fiscal policies will be implemented, which could increase the budget deficit and inflation. As a result, the Fed may pause rate cuts. Conversely, if Kamala Harris wins, the economy is expected to continue its slow and steady path, and the Fed would likely proceed with a rate cut in November; however, with a Trump victory, this cut may be halted in December.
CAPITALCOM:US100Short
by Ali_PSND
Trump or Harris? Markets Awaits Outcome Trump or Harris? Markets Awaits Outcome This week, the U.S. presidential election will command everyone's attention. Market watchers will be focused on a handful of pivotal swing states, including Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin. Pennsylvania is potentially the most critical. Yet, the results may not be immediate. In 2020, for instance, the Associated Press declared Biden the official winner about three and a half days after polls closed. This time around, a win by Trump could strengthen the dollar, driven by the possibility of heightened tariffs that may also weigh on currencies closely linked to China, such as the Australian dollar. With daily MACD in negative territory, AUD/USD appears on track to test the next support at 0.6490, aligned with a trend line since October 2023 In contrast, Newsquawk suggests that a Harris victory could pressure the dollar, with potential gains in commodities and the euro.
by BlackBull_Markets
Bitcoin Stays True to “Uptober” with 11% Pop. What Happens Next?Bitcoin BTC/USD saw elevated demand in October as the surge nearly led to a new all-time high. Now the looming US election on November 5 is shaping up as a catalyst for growth, depending on who gets to become President of the United States. Bullishness is in the air. The OG token — Bitcoin BTC/USD — pumped hard in yet another October. Staying true to the “Uptober” tradition , BTC added 11% over the month, kicking it all the way up to more than $73,000 , just a few hundred bucks shy of its record high logged in March . The powerful surge is now taking a breather with prices diving back under the $70,000 threshold. But not for long, according to some analysts who are already living post November 5. What’s that? It’s the biggest event of the year — economically, politically, and … cryptolitically ? Gloves on, bell rings, the main event is here — in the blue corner is Democrat Kamala Harris facing her red-shorts opponent, Republican Donald Trump. The current Vice President and the former President are squaring up for the top spot in American politics. And both have vastly differing viewpoints on crypto. If we were to play favorites, it’s fair to say that Donald Trump is winning the hearts of the crypto faithful. Throughout his rallying and campaigning, he’s made it clear that he believes in Bitcoin’s growth potential. What’s more, he’s embraced digital assets in general and wants to see the market thrive in the world’s biggest economy. The promises don’t stop there. Trump has vowed to make the US the “crypto capital of the world” and dig out all the remaining Bitcoins from within US grounds. He also pledged to set up a Bitcoin strategic reserve and fire Securities and Exchange Commission Chair Gary Gensler, who is seen as a roadblock to future crypto growth. Hence the so-called “Trump trade,” which has been propelling the orange coin to higher places. On the other end of the spectrum is Kamala Harris who has adopted a warm, but not that warm stance toward crypto. She’s all about casting a sweeping regulatory framework over the industry. The Democratic candidate has vowed to “encourage innovative technologies” like digital assets. Still better than President Joe Biden’s crackdown on the sector. More interestingly, Trump has recruited a key player on his team. Elon Musk, the world’s richest guy (depending on the day) and CEO of Tesla TSLA , is a major donor to Trump’s campaign. He is looking to potentially get employed by the government as head of — can you guess? — Department of Government Efficiency, or DOGE (a nod to Musk’s beloved coin). "I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government," Trump said at a rally back in September. “I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed,” the eccentric billionaire wrote on his X platform . How is that bullishness trickling into the markets? Besides the obvious price leap, options traders are ramping up their bets for $80,000 Bitcoin by the end of November. Implied volatility on November 5 is elevated — BTC options flag a 30% chance of a 10% swing in the price. Stay cool, stay ready. On the ETFs front, exchange-traded funds that hold genuine Bitcoin and offer spot trading pulled in around $4 billion of net new money in October. The biggest winner of all 11 spot BTC ETFs is the BlackRock-owned iShares Bitcoin Trust, which holds more than $26 billion in assets. Traders broadly (not just the crypto space) may be pricing in a Trump victory and scooping up some of the assets that are likely to do well under his term. But while Trump is ahead in prediction markets, he’s neck-and-neck with Harris in the national polls, making Election Day all the more uncertain. With that said, Bitcoin is up 57% on the year, outperforming other large-cap assets, such as gold XAU/USD , up 35% in a stellar year of its own , and the S&P 500 SPX , up 20% year to date, also enjoying lots of buying appetite . Whose side are you on and do you think we'll see a huge swing in the price of Bitcoin come November 5? Share your thoughts below!
Editors' picks
BITSTAMP:BTCUSD
by TradingView
18
SPX in monthly (log)Hello community, A quick review of the month on the SPX index. A red candle for this month of October. I have indicated in orange the simple 12-period average (monthly) The price is in the upper part of the channel, I don't see anything alarming on the chart. The trend is still bullish, I prefer to invest my money in the American market, than on the old continent which is very sick! Whether it is Harris against Trump, the new president will have a country in working order to face the future. I have confidence in the USA. Make your opinion, before placing an order. ► Thank you for boosting, commenting, subscribing!
SP:SPXLong
by DL_INVEST
M6E: Staking an Opinion on the US ElectionCME: Micro EUR/USD Futures ( CME_MINI:M6E1! ) All eyes are on the November 5th U.S. presidential election. The stake can’t be higher. A bad outcome could lead to reshaping the balance of world power, an escalation of the geopolitical crises underway, and disrupting the social stability in the U.S. and beyond. Here on TradingView, I want to address this question: How would the U.S. election impact financial investment? A Lookback from the 2022 U.S. Midterm Election On August 17, 2022, I published “Market Impacts of the US Mid-term Elections, which broke down the possible election outcomes into two categories: • “One-Party Rule”, where Democrats controlled the White House and the Congress • “Divided Government”, where Republicans retook either the House or the Senate and created effective challenges to the Administration’s political agenda I analyzed how each asset class would fare under these two scenarios. My conclusion was that the four mega spending bills passed in the first two years would pump $4 trillion in the U.S. economy and would pop up the stock market. At the time of that story, the S&P 500 stood at 4,264. Last Friday, it settled at 5,808, up 36%. Prediction Markets, Opinion Polls and the DJT Stock With the upcoming election, my main question can be broken down into two: • What asset class would fare well if Trump wins? • Would there be any investment instrument help us express our market view? What if Harris win? The election is a binary option with only two outcomes. We could combine them in one question with Yes or No answer. A No for Trump is equivalent to a Yes to Harris. To start our analysis, we need to assess the winning odds of each candidate. Many data sources exist to help. Each tells a part of the story, but all have their own flaws. In my opinion, the prediction markets are preferrable to opinion polls. Millions of people wager on the election outcome on Polymarket, with the money pool amounting to $2.5 billion. This is a real deal as people put money where their mouth is. Currently, Polymarket predicts that Trump has 65.1% odds of winning the election, where Harris has a 34.9% chance. How does it work? • If you believe in Trump, you could put down 65 cents for a recreational bet to vote Yes. When he wins, you get $1 back, and if he loses, you lose the bet. • If you are in favor of Harris, you could put down 35 cents to vote No for Trump. You also get $1 back if Harris wins and will say goodbye to 35 cents if she loses. Many readers are not comfortable with an “All or Nothing” trade and may not be allowed to participate in a betting market. Fortunately, there are investment-graded alternatives. Trump Media & Technology Group Corp ( NASDAQ:DJT ) is a publicly traded company listed on the Nasdaq market. Its main owner is Donald J. Trump with an 84% stake, and its main asset is TrueSocial. My hypothesis: DJT stock price shall move up (down) along with the rise (fall) of Trump’s winning odds. With so many unprecedented events happening, we should be able to validate this assumption easily. Let’s look back in the campaign timeline in the past four months, and see how Polymarket and DJT stock price responded to these events: (1) On June 27th, the first presidential debate took place. It’s generally viewed that the current President performed poorly against his opponent. My rating: Positive on Trump • Polymarket: Trump’s odds increase from 59.5% to 67.0% (+7.5%) • DJT: Stock price moved from $25 to $39 (+56%) (2) On July 13th, an attempted assassination on Donald Trump wounded him and killed a bystander in Pennsylvania. Rating: Strong Positive • Polymarket from 59% to 71% (+12%) and DJT from $29 to $41(+41%) (3) On July 24th, President Biden withdrew his presidential candidacy. On August 3rd, Kamala Harris became the Democrats nominee after a roll call to party delegates secured a majority vote. Rating: Negative on Trump • Polymarket from 62% to 45% (-17%) and DJT from $41 to $21 (-49%) (4) On September 10th, the second presidential debate with Trump and Harris took place. Many viewed that Harris performed better than expected. Rating: Negative on Trump • Polymarket from 52% to 49% (-3%) and DJT from $18 to $12 (-33%) (5) On October 20th, Trump worked a shift in a McDonald’s in Pennsylvania, making fries and handing out food to mobile customers. Rating: Very Positive • Polymarket from 55% to 65% (+10%) and DJT from $20 to $39 (+95%) The above analysis shows that DJT is positively correlated to the Polymarket winning odds. Therefore, we could use DJT as a stock market proxy for Trump’s chance of winning the presidential election on November 5th. For anyone owning a stock brokerage account, he could give his approval to Trump by buying DJT. Harris became presidential nominee in less than 3 months, and there isn’t a stock symbol closely linked to her. Therefore, for anyone leaning towards her, he could deliver a disapproval to Trump by shorting DJT. DJT Correlation with Other Financial Instruments Keep in mind that DJT is a single stock with very volatile prices. Its low market valuation opens DJT vulnerable to stock manipulation. A prudent investor may want to consider other assets that move in line with DJT but are less volatile. I looked into a number of financial instruments. Here is what I founded: US stock market indexes Dow Jones, S&P 500 and Nasdaq 100 have no correlation with the stock prices of DJT Gold and Bitcoin have no correlation with the stock prices of DJT US Dollar Index is positively correlated with the stock prices of DJT, while the Euro-USD Exchange Rate is negatively correlated with the stock prices of DJT Let’s focus on the ones with statistically significant correlations. The dollar index moved in line with Trump’s winning odds. Investors are not necessarily in favor of a Trump win. In my opinion, his America-First policy would help uphold the value of the dollar. Meanwhile, an untested Harris administration means more uncertainties to dollar investors. The Euro-USD is negatively correlated with DJT because of the quoting convention in the FX market. Quoting as number of dollars per euro, dollar appreciation means that each unit of euro could buy fewer dollars, resulting in the declining exchange rate quotation. The opposite also holds true. Trade Setup with the Micro Euro-USD Futures Like trading DJT, a trader could express his political opinions in this election using CME Micro Euro-USD futures ($M6E). M6E contract has a notional value of 12,500 euros. Buying or selling one contract requires an initial margin of $280. The December contract (M6EZ4) was settled at $1.0817 last Friday. At the current price, each contract is valued at $13,521.25. The M6E contract is very liquid, with a daily trade volume of 18,096 and an Open Interest of 14,375. Along the line with our preceding discussion, possible trade setup are as follows: • A Trump victory could strengthen the dollar, leading to a decline in M6E quotation. Therefore, a vote for Trump could equal to a short position in Micro Euro-USD futures. • A Harris victory could weaken the dollar, leading to an increase in M6E quotation. A vote for Harris is a No to Trump, which could equal to a long position in M6E. I do not attempt to sway anyone’s vote to one direction or the other. Both views could find application using M6E. Unlike Polymarket, trading futures is not an All-or-Nothing bet. If you are wrong, you may incur losses in the trade, but not necessarily lose everything. Happy Trading. Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:6E1!Short
by JimHuangChicago
Bitcoin - American elections, future fluctuations of Bitcoin!Bitcoin is above the EMA50 and EMA200 in the 4H time frame and is trading in its ascending channel Risk ON sentiment in the US stock market or investing in Bitcoin ETF funds will lead to its continued upward movement Capital withdrawals from Bitcoin ETFs or risk OFF sentiment in the US stock market will pave the way down for Bitcoin, which can be used to look for Bitcoin buying positions in the two specified demand zones As long as Bitcoin is within the specified range, you can look for buy and sell positions at the top and bottom of the range It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important
COINBASE:BTCUSD
by Ali_PSND
Walz vs. Vance: Markets to Watch Democrat Tim Walz and Republican JD Vance are set to clash next week in the sole U.S. vice presidential debate, an opportunity for both candidates to bolster their running mates’ platforms ahead of the crucial November 5 election. For the exact date and time of major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox. Will the markets mirror the first debate’s outcome? Vance faces an uphill battle, with polling data showing he carries higher unfavorable ratings compared to Walz. So, unless Vance exceeds expectations during the debate, the "winner" will likely be the more favored candidate going in. During the first debate between Trump and Harris, assets linked to the Harris/Walz ticket surged post-debate. Green economy stocks rose 4.1%, renewables climbed 4.0%, and oil gained 2.1%, driven by lower supply expectations. Semiconductors saw a 4.4% uptick. Meanwhile, Trump-trade assets stumbled, with Trump Media & Technology Group plunging 13%, and crypto-related stocks, including Bitcoin, pulling back.
BLACKBULL:BTCUSD
by BlackBull_Markets
SPX & Bitcoin Correlation & US presidential election #Spx 1D chart; Let me first talk about the importance of the S&P 500 chart; They are positively correlated (i.e. they move together): *#Nasdaq100 *#Oil *#Bitcoin (sometimes) Now, what I want to draw your attention to is that just before the presidential elections, in September and October, there was always a decline. After the elections, there has been a continuous upward trend in the first 100 days. Not counting the 2008 world economic crisis, this has never changed in the last 3 elections. Even after the 2008 crisis, after falling for a while, it started to rise immediately afterwards. The data we are evaluating here is the first 100 days. In September 2024, I indicated the decline with an orange circle With a decline in October, a long-term uptrend may begin. If Bitcoin also shows a correlation here, which is my expectation as in the #Btc chart I drew earlier, we will start a permanent uptrend after suffering for another 1 month. SP500 end of first 100 days data after the US Presidential election: Post 2020 Election (Joe Biden): +17% Post 2016 Election (Donald Trump): +10% After 2012 Election (Barack Obama - Second Term): +10% After 2008 Election (Barack Obama - First Term): -19%
CBOE:SPXLong
by ugurtash
4 Political Tensions Fueling Gold Prices As gold aims to test record high again, let's look at some of the political issues possibly driving the price action. Iran Tensions Escalate: The Pentagon has dispatched a guided missile submarine and a carrier strike group, to the Middle East. This move follows Iran's vow of retaliation against Israel after a senior Hamas leader was killed in Tehran last month. With nearly two weeks passing without a retaliation, the atmosphere remains tense. US Political Landscape: A recent New York Times/Siena poll places Vice President Kamala Harris, who is on a swing state tour, ahead of former President Donald Trump by four points in key battleground states, including Michigan, Wisconsin, and Pennsylvania. However, with nearly three months left until the election, the race remains fluid. Trump is set to appear in an interview with Elon Musk on the X platform, looking for a shift in momentum. US Economic Concerns: Bank of America CEO Brian Moynihan warned that U.S. consumers might become “dispirited” if the Federal Reserve delays interest rate cuts. He emphasized that once consumer sentiment turns negative, recovery becomes challenging. However, Moynihan acknowledged that Bank of America no longer anticipates a recession. Ukraine’s Military Advance: Ukraine’s top military commander reported control over 1,000 square kilometers of Russia’s neighboring Kursk region, with Russia evacuating over 76,000 residents from western Kursk. Russia is now evacuating residents from a second border region as Ukraine's surprise week-long offensive within Russian territory intensifies.
BLACKBULL:XAUUSD
by BlackBull_Markets
Democrats Return to the Election Battle with Harris!Democrats Return to the Election Battle with Harris! Financial Markets Confused! Kamala Harris, with the support of 68% of Democrats, is closer to competing against Trump. The Vice President of the United States, Kamala Harris, has surpassed the necessary support threshold to secure the Democratic Party's presidential nomination. This positions her as the likely candidate from the Democratic Party to compete against the Republican nominee, Donald Trump. While it seemed the Democrats were nearing the end of their journey and with Biden's withdrawal it was expected that the road would be clear for the Republicans, Harris's candidacy has created new challenges for the crypto market. It is now difficult to predict whether Trump will win the upcoming US election, as Harris could secure the votes of African Americans and women. Additionally, it seems some people who did not want to choose between Trump and Biden now have a new candidate to vote for. With all these issues, it seems the crypto market has lost the excitement of Trump's potential presidency and is pricing current events with a sense of confusion! Technical Analysis of Bitcoin Bitcoin, after reaching $68,500 and creating a double top at this level, has returned to $66,500. The presence of negative divergence and the uncertainty of Trump's victory due to Harris's nomination by the Democrats are market risks, while the launch of Ethereum ETFs is a positive market event today. Losing $66,500 could lead to further decline to $63,800 and $62,500.
Short
by Cryptowormshot