Price
Though yesterday closed with a slight growth, the pattern stays as a lateral stagnation accompanied by a decrease in volumes. Recent comments from the SEC officials, that they will reconsider the disapproval orders for nine bitcoin ETFs issued on Wednesday, caused even more confusion on the markets, leaving the price in its comfortable boundaries 6250 – 6600. Wider technical view stays bearish and without a sufficient positive fundamental news the price will eventually lose grab on this levels and start to go lower to the 6000 support. From above we have 6600 resistance and the whole strong resistive zone up to 7000.
Today forecast
Trading in the 6000 – 6600 zone. Possible bearish rally.
Latest news
Though yesterday closed with a slight growth, the pattern stays as a lateral stagnation accompanied by a decrease in volumes. Recent comments from the SEC officials, that they will reconsider the disapproval orders for nine bitcoin ETFs issued on Wednesday, caused even more confusion on the markets, leaving the price in its comfortable boundaries 6250 – 6600. Wider technical view stays bearish and without a sufficient positive fundamental news the price will eventually lose grab on this levels and start to go lower to the 6000 support. From above we have 6600 resistance and the whole strong resistive zone up to 7000.
Today forecast
Trading in the 6000 – 6600 zone. Possible bearish rally.
Latest news
- SEC intends to review the refusals
As was reported by CoinDesk, the US Securities and Exchange Commission (SEC) announced its intention to reconsider its previous decision to deny the launch of nine bitcoin-oriented ETFs.
In a letter to by SEC secretary Brent Fields addressed to the senior advisor of the NYSE Group, David De Gregorio, says:
"This letter is to notify you that, pursuant to Rule 43 I of the Commission's Rules of Practice, 17 CFR 20 I .43 1, the Commission will review the delegated action. In accordance with Rule 431 (e), the August 22 order is stayed until the Commission orders otherwise."
The time frame during which the Commission intends to take final decisions on the proposed ETF is not specified. A copy of the letter was also received by Cboe Global Markets.
The news of the SEC's intention to reconsider its decision was first reported by Commissioner Hester Pearce, who earlier criticized the refusal to launch the bitcoin-ETF of the Winklevoss brothers.
“In English: the Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff's action, as will now happen here.”, @HesterPeirce.
