Bitcoin is embarking on a journey to 10K and possibly beyond as the market eagerly anticipates the upcoming and biggest ETF frenzy in crypto history.
For your convenience, I have marked and labeled the dates of every ETF decision on the chart so you can see how Bitcoin trends during this exciting period and how price reacts to these milestones, before and after. It is habitual for price to increase dramatically as market expectation of the world’s first digital commodity becoming available to public investors continues to heighten.
At C.EZ, we are fully aware that price would not go up in a straight line from here. Our traders are fully prepared for extreme volatility in Bitcoin as we approach the date of every single ETF decision to be publicly announced by the SEC – and the first ETF decision is only 3 days away.
In terms of technical analysis, price could still revisit the lows one final time to form a higher low before bigger strides of upward movement can be seen in Bitcoin. The BTC analysis that I posted on August 15 has got this covered and remains valid though the timing may be slightly off by now. Click on the chart below to view my short term analysis on Bitcoin.
For a longer term perspective, you may refer to my Bitcoin Q3 Forecast. Originally posted on July 1, this forecast has proven time and time again to be a guiding light for traders in the midst of uncertainty. Click on the chart below to view my 3-month analysis on Bitcoin.
Here is a list of the ETF decision dates:
1) ProShares: August 23 2) GraniteShares ETF: September 15 3) Direxion ETF: September 21 4) SolidX-VanEck ETF (CBOE): September 30
Have a great day and good luck!
Buy me a cup of coffee (or steak dinner): BTC: 1GG7CwY3zqdCYqQz1ZG9PHyoxCGGrQu5pb BCH: qznk2nnuppn0xszpmx0ruvfzlh7z5ux8r527d05k3f
Please note that everything (key levels, timing etc.) in this chart is calculated based on a variety of trading methods and indicators used. The reason you don’t see them visible is because I have purposely removed them to keep this chart clean and easier to comprehend.
Detailed comparison between 2014 and 2018 Guys its awesome.
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
pragmaticbestfit
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Hi,
The best breakout opportunity at 7200 is that because it is the bottom of the cloud or what are the arguments for placing that at 7200?
cryptoezvip
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@pragmaticbestfit, the area in question covers a 20-day period where upside resistance is the least, starting from Aug 21. The price has no relevance.
jollygreen
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ETFs are fake news don't buy into it because your disappointment will be immense when they fall through and sellers betting on them tank the market.
jedebel
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Meh. Nothing has changed with the possibility of approving ETFs. The SEC will likely say no for a variety of good reasons. Proshares ETF is not commodity based so even if it is approved I doubt it will have a long term significant impact on price. Just my .02 cents.
Amjadsid
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buy b/w 4k-5k$ for 10k: first price have to break down 5800 then small up
pragmaticbestfit
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Hi,
Thx for the analysis. What is your opinion on getting above the long term support line and continue a Dotcom like recovery?
fire_000
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what if all the eft gets rejected
cryptoezvip
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@firestorm1, let us focus what is in front of us for now rather than the probabilities that are unknown to us. For the latter, only time will tell.
jollygreen
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@bibboyne, ETFs are the unknown buddy. Don't bet on thin air holding up the market. Bet on solid TA and analysis.
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.