Bitcoin has been rejected three times at the 200-day SMA and is currently near $77.7K; in prior midterm election years (2018, 2022) similar rejections led to severe drops. A break below $77K could trigger stop-losses and momentum selling, targeting the next support at $60K and possibly $48K. Short Bitcoin directly or via inverse ETFs (BITI/SBIT) to capitalize on a technical breakdown. If Bitcoin reclaims the 200-day SMA (~$78K+), the short thesis invalidates; also, macro news could spark a rally.
Bitcoin has been rejected three times at the 200-day SMA and is currently near $77.7K; in prior midterm election years (2018, 2022) similar rejections led to severe drops. A break below $77K could trigger stop-losses and momentum selling, targeting the next support at $60K and possibly $48K. Short Bitcoin directly or via inverse ETFs (BITI/SBIT) to capitalize on a technical breakdown. If Bitcoin reclaims the 200-day SMA (~$78K+), the short thesis invalidates; also, macro news could spark a rally.