Bitcoin: V-Shaped Recovery to $78.4k After Midterms

Bitcoin completed a deep V-shaped recovery from 75.8k to 78.4k within the day as a divided government scenario took shape after the midterm elections, according to GreeksLive. Nasdaq futures turned positive in tandem while the market digested the results.

The shift in Congress control eases concerns over long-term U.S. Treasury supply, lowering the 10-year yield and unlocking valuations for tech stocks and risk assets. Democratic control stalls deregulation bills such as the Clarity Act, removing the short-term compliance premium for DeFi and altcoins, yet Bitcoin pricing has already pivoted to U.S. dollar macro liquidity rather than Washington policy.

Price sits at $78574.54 inside the Bollinger Bands with upper resistance at $78959.42. The EMA50 at $78481.51 provides immediate support while the EMA200 at $80804.07 caps the longer-term structure. MACD golden cross at -116.7 keeps the bullish bias intact even as RSI at 56.34 shows neutral momentum, suggesting any push toward the upper band may first require a healthy test of the 50-EMA before continuation.