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⚡️ Renowned trader Killa: Bitcoin may bottom before the midterm elections; caution is warranted regarding a post-midterm rally
BlockBeats reports,October 17, renowned trader Killa recently released a video predicting market trends around the U.S. midterm elections. His analysis summarizes the timing relationship between prior midterm elections and Bitcoin bottoms (2014 year: bottomed approximately 70 days after the midterm elections. 2018 year: bottomed approximately 40-44 days later. 2022 year: bottomed almost during the midterm elections.), and believes that before this November 3 U.S. midterm election, Bitcoin could form a weekly-chart-level bottom.
He also presents main scenario assumptions:
Early-bottom scenario:BTC forms a low before (or around) the midterm elections (potentially sweeping the current low, or remaining above 80k), then begins to rebound, first testing the 80k area, and potentially ultimately reaching 95k. This would result in a bullish fourth quarter, contrary to most people's expectation of post-election “risk-off.”
Classic risk-off scenario: prices first rise sharply (potentially sweeping the highs or even reaching 94-95k), followed by the historically common sell-off/risk-off decline after the midterm elections (similar in 4 out of the past 3 instances).
Killa advises investors to closely monitor price structure leading into the midterm elections and respond accordingly. If an early bottom forms, it may be appropriate to remain bullish after the election; if prices weaken after a sharp rise, consider de-risking. Overall, he emphasizes that patterns are changing at an accelerated pace and that the historical assumption that prices must fall after elections cannot simply be copied.
Killa, a quantitative trader focused on BTC, previously forecast the peak of this bull market in 2025 May and has over 200000 followers on X.April mid-month, he shorted Bitcoin at 74,688 USD and turned long during the June 5 broad market decline.
Original link https://m.theblockbeats.info/flash/372358