Complete Gate Post tasks to upgrade your rank

Credit Ranking

[//]:content-type-MARKDOWN-DONOT-DELETE
On November 6, at 3:30 p.m. Beijing time (early morning local U.S. time), Republican candidate Donald Trump officially confirmed his victory as the new President of the United States. Trump won with approximately 51.94% of the popular vote, defeating Democratic candidate Kamala Harris.
Since the U.S. presidential election vote count began on November 5, the <a href="/price" target="_blank" class="blog_inner_link">cryptocurrency market</a>, led by BTC, has seen a general rise. On the morning of November 5, BTC briefly dropped below $67,000 but rebounded in the evening to surpass $70,000. By the morning of November 6, BTC surged, briefly breaking through $75,000 to set a new all-time high. Following the final election results, BTC briefly pulled back to consolidate around $73,000.
As a more crypto-friendly candidate than Harris, Trump made several campaign promises that favored the cryptocurrency industry:
-Committing to ending regulatory hostility towards the crypto industry;
-Pledging to protect the right to mine <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> and for the U.S. citizens to self-custody their digital assets;
-Promising to release Ross Ulbricht, convicted of creating the Silk Road darknet market;
-Promising to keep Senator Elizabeth Warren (proponent of strict crypto regulations) and her "enforcers" away from <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> holders;
-Vowing to replace Federal Reserve Chair Gary Gensler on his first day in office;
-Committing to establish a national <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> strategic reserve, with no intention of selling;
-Pledging to create a <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> advisory council;
-Declaring no support for a CBDC (Central Bank Digital Currency).
Trump’s election win has significant implications for U.S. policy direction, economic development, and the <a href="/price" target="_blank" class="blog_inner_link">crypto market</a>. Over recent years, his stance on cryptocurrency has evolved, from initially criticizing Bitcoin and other digital currencies to showing interest in blockchain, accepting crypto donations, and even launching his own DeFi product. His return to office has greatly invigorated trading enthusiasm in the <a href="/price" target="_blank" class="blog_inner_link">crypto market</a>. How should we view Bitcoin's trajectory moving forward?
![](https://gimg2.gateimg.com/image/article/1730884683screenshot-20241106-170830.png)
## BTC Market Analysis
-Current Price: 73,141.05 USDT
-24-hour Increase: 6.10%
-24-hour High: 75,412 USDT
-24-hour Low: 68,614.43 USDT
-Support Level: 67,677.3 USDT
-Resistance Level: 76,804.3 USDT
-Fear and Greed Index: 70 (Greed)
## Trading Strategy
### Short-term Pullback and Short Strategy
-Direction: Short
-Entry Price: 74,000 USDT (close to the current price)
-Stop Loss: 75,500 USDT (above the resistance level)
-Target Price: 70,000 USDT (near support level)
Reasons:
1.The market is currently overbought, which could lead to a short-term pullback.
2.The Fear and Greed Index indicates an overly optimistic sentiment, potentially causing price adjustments.
Characteristics:
-Suited for short-term traders who can utilize market sentiment and technical indicators.
-Stop loss set above the resistance level to protect against unexpected price breakouts.
### Breakout and Long Strategy
-Direction: Long
-Entry Price: 77,000 USDT (after a breakout of resistance)
-Stop Loss: 76,000 USDT (below the resistance level)
-Target Price: 80,000 USDT (psychological threshold)
Reasons:
1.If the price breaks above 76,804.3 USDT resistance level, it could lead to further gains.
2.Strong buying interest is evident from current inflows.
Characteristics:
-Suited for medium- to short-term traders, utilizing breakout signals.
-Stop loss set below the resistance level to protect funds.
## Summary
In recent years, political turbulence, macro policy changes, and global economic uncertainty have impacted Bitcoin's trajectory, at one point reducing it by 70% from its 2021 peak. However, Bitcoin’s steady progress toward new highs remains undeterred. With pro-Bitcoin Trump back in power, his support for cryptocurrency is expected to spark new enthusiasm in the market, potentially propelling Bitcoin to new heights.
<div class="blog-details-info">
<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

简体中文

English

Tiếng Việt

Español

Русский язык

Français

ภาษาไทย

日本語

Indonesia

Deutsch

عربي

Português (Portugal]

Português (Brasil]

繁體中文

Українська

The crypto-friendly Trump’s return to power will undoubtedly spark a new wave in the market, potentially driving Bitcoin to new heights.

福利中心

小红花-Learn & Explore-博客

小红花-Learn & Explore-快讯

币圈-币圈-未来事件

小红花-Learn & Explore-聊天室

小红花-Learn & Explore-直播

小红花-Learn & Explore-动态

币圈

Gate OTC

芝麻金融-更多-财富管理

机构-APIs

机构-大宗交易服务

机构-经纪商项目

全球做市商计划

机构-托管和资产管理

机构借贷

机构-做市商项目

小红花-Promotions-机构和VIP服务

量化基金

机构-基础架构

机构-交易

机构-金融

结构化产品

机构-主页

衍生品-统一账户

芝麻金融-更多-抵押借币

vip服务

机构

策略跟单

现货跟单

交易-合约跟单

跟单

量化策略-探索

量化策略-进阶

量化策略-基础

交易-机器人广场

创建机器人

探索机器人

杠杆网格

无限网格

期现套利

组合指标策略

智能调仓

现货马丁格尔

合约网格

现货网格

交易机器人

芝麻金融-更多-ETH2.0挖矿

芝麻金融-更多-法币理财

链上赚币

芝麻金融-理财-双币宝

芝麻金融-理财-定期理财(屯币)

芝麻金融-理财-结构性理财

芝麻金融-理财-理财宝

芝麻金融-理财-余币宝

GT挖矿

芝麻金融-更多（理财产品）

芝麻金融-理财（打新）

launchpool

launchpad

赚币-HODLer Airdrop

candy_drop

web3 Airdrop

赚币

模拟交易

衍生品-期权

衍生品-交割合约

衍生品-永续合约

合约入门

合约活动

衍生品

交易-杠杆ETF

交易-杠杆交易

交易-闪兑

交易-现货交易

交易-创新交易

交易-交易工具

交易-交易类型

交易-盘前交易

交易

行情

买币-gateCard

卖币

买币-快捷交易

买币

买币-paywith

法币定投

小红花-推广

新手指南

活动中心

小红花-Learn & Explore-学院

小红花-Exchange-最新公告

小红花-Exchange-帮助中心

gate商店

小红花-Promotions-邀请计划

小红花-promotions-代理商

储备金

合作伙伴

cextg小程序

小红花

web3

Trump’s re-election boosts BTC to a new all-time high; how to trade in the coming market?