While the bitcoin exchange rate is trading in a narrow side channel near its annual lows, the good news is that eventually the bitcoin ETF will be launched , cheering up traders and investors who believe in the industry. Yesterday, SEC Commissioner Robert Jackson Jr. made a statement, who noted during his speech that the appearance of ETFs for bitcoin is only a matter of time. He thinks
the next application for bitcoin ETF will eventually meet all the necessary standards set by the US securities Commission.
Signal to buy Bitcoin (BTC):
While the trade is below 3 430, it is not necessary to talk about buyers. Only the consolidation above 3 430 will be the first signal to buy cryptocurrencies in order to update the maximum of 3 480 and 3 540, where I recommend to fix the profit. However, it is better to take the opening of long positions more seriously after updating the lows in the region of 3 100, 2 850 and 2 500.
A sell signal Bitcoin (BTC)
Trading below 3,430 only discourages new potential investors, but it is important to note that yesterday’s support test of 3,380 was unsuccessful. Only its breakthrough will lead to a new sale in the area of annual levels 3 100, 2 850 and 2 500, where I recommend to fix the profit. In case of cryptocurrency growth, open short positions after a false breakout in the area of 3 430, or a rebound from 3 490.