Bitcoin price volatility expected ahead of US elections: Here are the price levels to watch

CoinMarketCap11-05 02:34

Bitcoin’s (BTC) price witnessed a sharp 8% correction between Oct. 29 and Nov. 3 and briefly dropped to $67,446 over the weekend. While the higher time frame (HTF) market structure remains bullish for...

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While the higher time frame (HTF) market structure remains bullish for...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/672913c84d14df32eb2769bb/\">Source Link</a>\n\n</div>\n","source":"coinmarketcap_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin price volatility expected ahead of US elections: Here are the price levels to watch</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin price volatility expected ahead of US elections: Here are the price levels to watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-05 02:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/672913c84d14df32eb2769bb/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin’s (BTC) price witnessed a sharp 8% correction between Oct. 29 and Nov. 3 and briefly dropped to $67,446 over the weekend. While the higher time frame (HTF) market structure remains bullish for...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/672913c84d14df32eb2769bb/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0345780281.USD","symbol_name":"NINETY ONE GSF GLOBAL GOLD \"A\"  ACC","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/672913c84d14df32eb2769bb/","article_id":"2481558949","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/1cec698da60844afa06485c4fbedc7c9.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481558949","pubTimestamp":1730745287,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Bitcoin’s  price witnessed a sharp 8% correction between Oct. 29 and Nov. 3 and briefly dropped to $67,446 over the weekend. While the higher time frame  market structure remains bullish for BTC, the market expects a volatile trading session heading into the US presidential election results on Nov. 5.Bitcoin’s current uptrend can be traced back to the lows formed at $52,510 on Sept. 6. Since then, each BTC correction during its higher high  and higher low  structure has retested the Fibonacci “golden zone” between 0.5 and 0.618.The chart below shows Bitcoin exhibiting similar behavior, with prices closing above the 0.618 level over the weekend. A daily close above $68,500 over the next 48 hours would complete the lower time frame  bullish structure, with BTC immediately recovering above the $70,000 psychological level.However, in light of a surprise Harris victory, Bitcoin could exhibit short-term price declines if traders choose to de-leverage long positions and remain sidelined for a","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0345780281.USD":"NINETY ONE GSF GLOBAL GOLD \"A\"  ACC","HL":"赫克拉矿业","BK4570":"地缘局势概念股","BK4210":"白银","LU0345780521.USD":"NINETY ONE GSF GLOBAL GOLD \"A\" (USD) INC","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股","BTC":"Grayscale Bitcoin Mini Trust"},"translate_title":"美国大选前预计比特币价格波动：以下是值得关注的价格水平","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTC":1,"HL":1},"content_text":"Bitcoin’s (BTC) price witnessed a sharp 8% correction between Oct. 29 and Nov. 3 and briefly dropped to $67,446 over the weekend. While the higher time frame (HTF) market structure remains bullish for BTC, the market expects a volatile trading session heading into the US presidential election results on Nov. 5.\nBitcoin’s current uptrend can be traced back to the lows formed at $52,510 on Sept. 6. Since then, each BTC correction during its higher high (HH) and higher low (HL) structure has retested the Fibonacci “golden zone” between 0.5 and 0.618.\nThe chart below shows Bitcoin exhibiting similar behavior, with prices closing above the 0.618 level over the weekend. A daily close above $68,500 over the next 48 hours would complete the lower time frame (LTF) bullish structure, with BTC immediately recovering above the $70,000 psychological level.\n\n\nBitcoin 1-day chart. Source: TradingView\n\n\nCold Blooder Shiller, an anonymous trader on X, conveyed a similar bullish projection, stating that the $69,200 level is “really important to claim back on the LTF.” The trader added,\n\n “You can make a very strong case for holding above $69,000 on the daily as a good retest and sign of strength.”\n\nWill a V-shaped reversal happen at $66,000?\nConsidering that Bitcoin lost the $68,500 level on the daily chart, the next area of interest is around $65,000-$66,000. Skew, an onchain analyst, pointed out that the Bitcoin market witnessed “persistent demand” around $65,000-$66,000 during its recent bullish rally, which pushed prices above $70,000 at the end of October.\n\n\nBitcoin Binance spot buys analysis by Skew. Source: X.com\n\n\nDuring the rally, a market shift was observed between $66,000 and $67,000 on Binance, where spot buys pushed BTC’s value beyond the $69,000 mark. Hence, a clear area of liquidity and order book depth was established. Thus, this area remains a clear zone for future market bids.\nAs observed in the chart, the $66,000-$67,000 range acted as a key resistance level a couple of times before it was breached, and then, it supported BTC prices before its recent highs at $73,660.\n\n\nBitcoin 1-day chart. Source: TradingView\n\n\nTherefore, this key area could support Bitcoin for a potential V-pattern reversal after the commencement of US election results.\nRelated: Bitcoin analyst sees $66K 'local bottom' as BTC price liquidates $200M\nBitcoin traders are at risk of liquidation\nIrrespective of the election results, multiple crypto proponents believed that the long-term trajectory is “up only” for Bitcoin. Charles Edwards, the founder of Capriole Fund, indicated that the current BTC ETF trend clearly suggests that the market does not care who will be the US president in the long term.\nCobie, a popular crypto trader, shared in this view.\n\n\nSource: X.com\n\n\nHowever, in light of a surprise Harris victory, Bitcoin could exhibit short-term price declines if traders choose to de-leverage long positions and remain sidelined for a few weeks until the market volatility cools down.\nIn such a scenario, a re-test to $62,000 is possible since over $300 million in leverage positions are around this price.\n\n\nBitcoin liquidation heatmap. Source: CoinGlass\n\n\nAn order block can also be observed around $62,000, and a price drop to that level could lead to a collective retest of the 50-day, 100-day, and 200-day EMA levels on the daily chart.\n\n\nBitcoin 1-day chart. Source: TradingView\n\n\nRelated: US election vs. Fed rate cut — 5 Things to know in Bitcoin this week\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481558949"}