Bitcoin Weekly Outlook: Indecisive US Election Remains the Biggest Risk

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Bitcoin posted its second-best monthly gains in October 2020, breaking above $14,000 on the very last day to reclaim its three-year high. But now, the cryptocurrency stands inside a technically overbought zone, expecting correction/consolidation to neutralize its bias. The weekend trading session saw the Bitcoin price falling to as low as $13,630 (data from Coinbase). Meanwhile, entering the new weekly session has seen it recovering to as high as $13,840. Bitcoin shows signs of correction while approaching the US election day. Source: BTCUSD on TradingView.com That shows uncertainty at the end of both bears and bulls. And likely so, Tuesday’s US presidential election day has everything to do with it. What’s the Matter? A stimulus deal remains evasive unless there is a decisive electoral outcome. Last month, Donald Trump warned that he won’t accept a defeat from his contender Joe Biden on suspicion of vote fraud. But now, when a…

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