While the bear they thought yesterday they took over the Control of the market Bitcoin, this is reported with a few flashes even at high altitude 58 000 $, reaching the resistance considered fundamental by the majority of analysts.
We are practically at a step historic peaks, peaks that have been lost from the huge correction that took place one last may, with $ BTC which ended up being worth less than half.
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ETF fever spikes Bitcoin
Le premier grab of a bullish character came from ETF au Bitcoin. We had already anticipated on the pages of Crypto-monnaie.it that in reality there was little lacking even for the USA and yesterday a first timid confirmation arrived.
Valkyrie he has indeed updated all the documentation concerning his own ETF, a practice that historically takes place when there is a smell of approval and therefore beginning on the market. Although few have bet on the possibility that this is precisely the first ETF to be approved in United States, everything seems to go in this direction.
SECOND - now with his back to the wall also because many managers have presented products that follow his instructions in detail - he will have to bend down and I accept at least some of the more than 20 products awaiting approval on his table. A situation which now even transcends the political game it occupies Democrats Et Republicans, on opposite sides.
Will there really be a news sale?
Hard to say now - even if it was no less than that Bloomberg to advance such a hypothesis. According to the famous financial news center approval of the first ETF I based sur $ BTC in United States it could be a vector of corrections, because of the good old principle of the market according to which the rumors are bought then the new ones are sold.
A suggestive hypothesis - which however has no scientific or technical basis for the moment - and which can be described as FUD beautiful and good, something to which Bloomberg is difficult to escape, as part of a schizophrenic hedge that is made on crypto-currencies and in particular on Bitcoin.
The day begins which promises to be very eventful
There asian sitting contributed to a new leap in Bitcoin, who at the time of writing this study is at the center of a struggle between bear Et bulls close to altitude 58 000 $. A psychological as well as a technical threshold, around which we could return several times, after the assault has already failed several times. However, we have plaintiffs in front of us higher peaks, or the maximums which for each assault are increased, which would bode well for the possibility of this type of barrier being overcome during the day.
We do not exclude that there will be gods significant lateral movements - which could also increase in view of a possible flashback of the whole sector altcoin - who still has a long way to go dominance de Bitcoin. Lateral movements which, historically, open to seasons of new growth, in the short and medium term.
Important price thresholds for Bitcoin
In a wider channel between the 55 000 $ et 58 000 $ that we have correctly indicated in ours Bitcoin Forecast - we believe that the technical price levels to look at today are 56 800 $ Et 58 400 $. Once these levels are exceeded, a new trend could emerge and we could declare the phase of lateral movements as momentarily over.
Any movement within this range should be considered classic noise du short term trade - which do not add or take away from the macro-trend. With relative certainty: the king is back.