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According to various analysts and strategists, it’s widely anticipated that a Republican victory would be positive for the stock market, while the outlook is less rosy in the case of a Democratic triumph. The two-week low in Bitcoin price was touched on in the morning update from Kitco senior technical analyst Jim Wyckoff, who noted that the “price uptrend on the daily bar chart has now been negated and bears have quickly gained fresh technical strength to suggest some more downside price pressure in the near term.”
— CZ 🔶 Binance November 8, 2022 While many were quick to assume that this would put an end to the current pullback and reinitiate the uptrend witnessed the week prior, cryptocurrency analyst il Capo of Crypto posted the following tweet offering a word of warning.
Source: News Formal (newsformal.com)
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