Due to the uncertainty around the elections, many traders were applying extra caution. Many traders were afraid of big volatility, especially on the downside. But was it the most probable outcome? Whaleportal clearly showed that an election pump was a higher probability, so let’s dive into this unique situation and learn how you can take advantage of it in the future.

When Bitcoin was correcting we posted how we expected it to rally on the 4th of November on The Blockchain Today.

What happened?

Whether you are a Donald Trump supporter or not, you could have taken advantage of the reality of the situation. Trading is a probabilities game, and if the odds are in your favor in all of your trades, you will become profitable. The odds of this specific trade were definitely in favor of an upside move, let’s dive in.

In the chart above you can see that while Bitcoin corrects from appr. $73’000, the sentiment completely goes into negative territory and the selling pressure is decreasing, a perfect cocktail for more potential upside, especially when the momentum indicator is turning bullish as well. Only this data profile will give you the advantage of reading the markets and seeing the highest probable scenario or direction, but this is not all.

If we look at the liquidation heatmaps, we can see that the liquidity is above the price of Bitcoin, as well as signaling, as liquidity works as a magnet, that the price has a higher likelihood of going up. But this is also not all, we have to see the market in it’s whole perspective.

In the image above, you can see how Bitcoin is following similar price behavior based on 4-year cycles. Based on this timing, we are entering the later phase of the bull market, when we will reach new all-time highs, which Bitcoin recently did touching $76,000.

Wrapping it up

This example illustrates again how important and powerful the right data is. That doesn’t mean it was a 100% done deal, but the combination of data favored a Bitcoin move to the upside, rather than the downside (which most traders were anticipating).

Whaleportal just reached over 450 users and continues to onboard new users daily to provide the right data so traders can make the right decisions in this volatile market and conquer their emotional state.

With Trump becoming the president and having a positive stance on Bitcoin, things probably look very colorful for the next 6-12 months for Bitcoin and Crypto. I sincerely hope the trend continues and that all of you get the most out of these market conditions. Enjoy!