The prices of Bitcoin, Ethereum and all other major cryptocurrencies are sharply down Wendesday following an announcement by the U.S. Security and Exchange Commission (SEC) that they will delay the decision on approving the expected first-ever Bitcoin ETF.
BTC/USD continuously following its' bearish trend, according to Bollinger Bands (BB), as long as the prices remain between the 20 days moving average (MA) the lower band.
Bitcoin tries reaching close to its support at $6383 but bounce back as buyers interrupt.
Relative Strength Index (RSI) is on 30, offering “over sold” market signal, we are currently still waiting for another signal from MACD of crossing the Signal one line. Once signal received, we might see Bitcoin prices going back towards $6718 (Resistance 1).
The launch of a Bitcoin ETF would likely be a big boost for Bitcoin and other coins, as it would open the doors to institutional investors to invest in the crypto market.
BTC/USD continuously following its' bearish trend, according to Bollinger Bands (BB), as long as the prices remain between the 20 days moving average (MA) the lower band.
Bitcoin tries reaching close to its support at $6383 but bounce back as buyers interrupt.
Relative Strength Index (RSI) is on 30, offering “over sold” market signal, we are currently still waiting for another signal from MACD of crossing the Signal one line. Once signal received, we might see Bitcoin prices going back towards $6718 (Resistance 1).
The launch of a Bitcoin ETF would likely be a big boost for Bitcoin and other coins, as it would open the doors to institutional investors to invest in the crypto market.