Veteran Traders Share 'Presidential Election Crypto Trading Roadmap,' Predict Heavy Volatility

Pseudonymous crypto analysts DonAlt and CryptoCred explored Bitcoin's BTC/USD price trends and the impact of Tuesday’s presidential election.

Bitcoin's Expected Trajectory

In the latest ‘Technical Roundup’ episode, DonAlt noted Bitcoin's recent surge to close to its all-time high before retreating below $70,000, calling the monthly close "catastrophic" after a key resistance retest.

He projected $49,000 as the first support level in the short term, with more robust support near $35,000 on a monthly timeframe, and in an extreme scenario, a possible drop to $16,000.

DonAlt attributes recent sluggish crypto market activity to positioning ahead of a potential Trump victory. He cautioned on X that a Trump win might bring only modest short-term upside for Bitcoin, while a loss could trigger a sell-off, with a Harris win potentially causing an even steeper decline. Emphasizing flexibility, DonAlt highlighted the need for strategic preparation as election results unfold.

Also Read: Bitcoin On The Evening Of The Election—Here’s How It Performed In 2012, 2016 And 2020

Ethereum's Play

DonAlt also commented on Ethereum's ETH/USD underperformance relative to Bitcoin, stressing the dependency of ETH/BTC strength on Bitcoin's movement. He shared his open position in a SOL/BTC trade.

Given the election uncertainty, DonAlt concluded, "I'm not going to trade in the next weeks, maybe months," stressing the importance of caution in the current environment.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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