I mentioned before the election that BTC was right at the top of the pennant which happens to coincide with the up-trending Media Support Line.
A Harris win and I projected a pullback down to $62K-$60K. A Trump win and I expect a quick move right back to $74K. Obviously the latter happened.
Someone asked if we are now in a new LULL, the answer is NO. The LULL is a very particular time during Crypto Summer, where BTC digests the last Halving, digests any gains, and goes nowhere for a while. This is not this time.
Right now, we are simply digesting this big move up and folks are parsing through all the Donnie rhetoric about BTC during the campaign, and trying to reconcile it with what will actually happen in practice.
This should produce a short period of sideways action. I don't think you will see $60K BTC anymore. My guess is that you may see a shallow pullback to the low $70Ks, moves up to $76-$77K and some general sideways movement.
But make no mistake. This is simply a springboard to $100K+ this year. So this consolidation period should be a matter of a couple of weeks, not months.
It is a REALLY dangerous time to be selling Crypto now. I think selling OTM Calls on Miners and COIN on a short term basis (only in November, not further out) still has some merit, but selling any actual BTC at this point would be folly.
Crypto is absolutely central to the sheer amount of thievery and grift we will see over the next few years in Washington. Most of the pieces are now in place.
I mentioned several weeks ago that I felt increasingly confident this would be a super cycle for Crypto this time around. I am now increasing that confidence level to a near certainty. I am a probabilities person, I rarely if ever use the word "certainty". Read into that what you will.
In short, it means DO NOT SELL YOUR BTC no matter what. It is trading at a fraction of realized price.
For those that have never lived through a super cycle you will not quite understand what is happening to your account when you wake up every morning.