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 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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