Bitcoin Today: upward impulse and no news from SEC

Price
After the breaking above 6500 price found support and went upwards with rising volume. At the next resistance level (6600) BTCUSD took a rest but did not rollback far only reaching the wedge formation boundary. Now the price gaining momentum and probably will test 6600 level once again. A breakthrough of 6600 will let the price in the main resistive zone of the autumn pattern 6600 – 6800. The fundamental picture stays indecisive, so there is no support for the bullish rally, and still the fact that the price climbs close to main resistance levels gives the chance that in case of any positive news there are more chances to reach above 7000.

Today forecast
Trading Bounds: 6500 – 6800. Breakthrough above 6800 – bullish signal with target on 7000.

Latest news

• [*]No statement from SEC on November 5
  A large part of the crypto-community was hoping to hear a decision from the US Securities and Exchange Commission (SEC) regarding nine Bitcoin (BTC) exchange-traded funds (ETFs) on November 5, 2018. No statement came, however, as November 5 was, in fact, the deadline for the public to submit their comments to the SEC to help the agency review the case.
  Initial statement about November 5 was released on October 4, the regulator issued a corrected order scheduling filing on the initially rejected nine crypto ETFs, where it clarified that “by November 5, 2018, any party or other person may file a statement in support of, or in opposition to, the action made pursuant to delegated authority.”
  SEC already have a practice of asking the public opinion — for instance, the regulator had received more than 1,300 comments on the proposed rule change to list and trade shares of the VanEck SolidX ETF, did not change its' decision, and then requested more comments.
  Nevertheless, some community members were confused by a rumor that November 5 was the deadline for the SEC decision per se and expected the agency to publish a statement. Decisions on ETFs are important for the community because it could open a way for institutional money to enter the crypto-market.
  For now, the probability of ETFs approval looks low, still, there is always a chance. The agency has been declining all crypto-related ETFs since March 2017, when it rejected the first one submitted by Winklevoss twins. The decision was based on concerns bitcoin markets are unregulated and extremely volatile.
  One of the most promising ETFs is the one powered by investment firm VanEck and financial service company SolidX with an additional emphasis on insurance: the VanEck SolidX Bitcoin ETF is derivative-backed, according to its press release, implying that the firms will actually hold BTC. This will allegedly protect against the loss or theft of the cryptocurrency, which might be an important factor for the SEC.
  Whilst there is no definite deadline for the nine Bitcoin ETFs in question, the VanEck SolidX Bitcoin ETF will reportedly be reviewed until February 2019. By that time, the industry might be more prepared for the SEC scrutiny. Thus, CNBC crypto analyst Brian Kelly previously argued that, according to statistics from Chicago Mercantile Exchange (CME) derivatives marketplace, the futures market is evolving quickly and that we will likely “have a much better shot” at Bitcoin ETF approval by next year:
  “Here’s CME Futures open interest of large holders. April, you’re starting to see a big increase about an 85 percent growth rate. If you extrapolate that out, by February 2019, you’re going to have a very robust market here.”