Bitcoin was very weak over the just-ended weekend, hitting a low of $67,450 in the late night yesterday, the lowest in nearly 7 days. The reasons for the decline may include lack of investor support for the financial reports of the seven major U.S. stocks from last week and choosing to stay out before the election to avoid potential big fluctuations, which could be one of the main reasons for the market downturn.
Bitcoin has reached $68,000.ResistanceIn the battle for dominance, the advantage support of the two bulls at $68,000 and $70,000 is essential. Maintaining these two resistance positions will prevent the bullish trend from deteriorating. If it falls below, it would be a false breakout, so the focus in the next few days is whether the support range of $68,000 - $70,000 can hold and lead to another rebound.
Tomorrow is the 5th election day, with results expected on the 6th. It's time to buy big or small, at the same levels, as the trend still remains uncertain.
The USA presidential election will officially take place on November 5th local time, with the earliest voting ending in some precincts of Indiana and Kentucky.
First, let's talk about the results. In general, if the new USA president can be elected on the same day with a definitive number of votes, it may be the best positive catalyst for the stock market and the crypto market.