SEC has an auto-imposed date limit to give an answer to the bitcoin ETF proposals, the biggest and most known one, the "COIN" ETF proposed by the "facebook" twins.
A no answer would result in an automatic approval.
In favour of the approval we have the current mess in SEC, that still has not designated a new head since TRUMP occupied the White House. Also a reducing volatility, China regulations and a real demand of a investment vehicle to expose to potential bitcoin profits from institutional investors are points in favour of an approval.
Against the approval we have the still huge bitcoin volatility, the technichal challenges to store bitcoins securely (see MTGOX and BFX as major reference for this challenges) and a potential hardfork and a weak plan to tackle it by the COIN proposal.
Then decission is probably already taken, but we wont know for sure until the news are out. I'm personally inclined for a rejection, but i wont biad my trading.
I see a clear channel since the "january dump", and once this channel is broken by etf catalyst news i'm ready to short/long either breakout. I'm looking for a 100-200 leg down as the very minimum if the etf gets rejected. Probably smaller leg up if it gets approved as it is partly already priced in.
I will each day adjust my trigger limits to the channel low trend line and channel top trend line.
I will get in as soon as the channel is broken, stop loss when prices goes 2% against my position. Targets really soft, i will monitor real time to be ready to close positions whenever necessary. I dont want to miss any potential profits if the news catalyst make bitcoin move even faster than my predictions.
A no answer would result in an automatic approval.
In favour of the approval we have the current mess in SEC, that still has not designated a new head since TRUMP occupied the White House. Also a reducing volatility, China regulations and a real demand of a investment vehicle to expose to potential bitcoin profits from institutional investors are points in favour of an approval.
Against the approval we have the still huge bitcoin volatility, the technichal challenges to store bitcoins securely (see MTGOX and BFX as major reference for this challenges) and a potential hardfork and a weak plan to tackle it by the COIN proposal.
Then decission is probably already taken, but we wont know for sure until the news are out. I'm personally inclined for a rejection, but i wont biad my trading.
I see a clear channel since the "january dump", and once this channel is broken by etf catalyst news i'm ready to short/long either breakout. I'm looking for a 100-200 leg down as the very minimum if the etf gets rejected. Probably smaller leg up if it gets approved as it is partly already priced in.
I will each day adjust my trigger limits to the channel low trend line and channel top trend line.
I will get in as soon as the channel is broken, stop loss when prices goes 2% against my position. Targets really soft, i will monitor real time to be ready to close positions whenever necessary. I dont want to miss any potential profits if the news catalyst make bitcoin move even faster than my predictions.
Comment:
www.nasdaq.com/artic...for-bitcoin-cm753897
Comment:
We already broke the cannel, still as it lacks volume and we have no news about the etf, i did not open this trade.
Now it will be far more difficult to know when to long, so you have to keep you 100% up to date with the news.
Now it will be far more difficult to know when to long, so you have to keep you 100% up to date with the news.
Comment:
1190 would be pretty healthy. If this retraces to 1190 and then the etf is approved we could have both technichals and fundamentals for a huge green leg.
The time limit is the 11th, but as it is saturday it is said it could be delayed to monday.
The time limit is the 11th, but as it is saturday it is said it could be delayed to monday.
Comment:
1190 reached :D
Now please bulls do not liquidate bears prior etf news. this price range is perfect for our setup.
Now please bulls do not liquidate bears prior etf news. this price range is perfect for our setup.
Comment:
Bottom of channel reached. Not opening short until news come out. Will be awaken in sec office time to catch the news. following @whalecalls in twitter to get their bot notification, subscribed to sec mailing list, and have google alerts for news talking about bitcoin etf, coin etf and winkelovss etf . Will be also monitoring regular news sites, such as coindesk, cryptonews, bitcoin.org, bitcoinmarkets subreddit, btc and bitcoin subreddits...
Comment:
Wow. that was insane. Luckily as we had already broken the chanel upwards and downwards i had no stop limits. i would have been triggered both sides lol.
Stepping out till real news.
Stepping out till real news.
Comment:
www.sec.gov/rules/sro/batsbzx.htm
here we will find the official news firsthand. sec will make the decission public there and everyone should be able to find it out at the same time
here we will find the official news firsthand. sec will make the decission public there and everyone should be able to find it out at the same time
Comment:
Fuentes relativamente fiables confirman que la decisión será tomada hoy
twitter.com/RyanVlas...s/840217251223556096
twitter.com/RyanVlas...s/840217251223556096
Comment:
SL going back to the channel, entry point 1147.
Comment:
Comment:
If this daily closes in the channel i will probably be closing this short. so far is still ongoing
Trade closed: stop reached:
This trade was stopped at yesterday's daily close (1171).
This means a 2% loss, x3 margin, a 6% loss of my colateral.
I really overstimated etf importance. I should have closed when i had the oportunity to do it at profits.
But we all make loosers. That's why we use stops and never trade full account. We are still in the game with a small loss.
This means a 2% loss, x3 margin, a 6% loss of my colateral.
I really overstimated etf importance. I should have closed when i had the oportunity to do it at profits.
But we all make loosers. That's why we use stops and never trade full account. We are still in the game with a small loss.