Time Is Running Out - Bitcoin MACRO Triangle - BBW COIL
Updated
Is it fate or bad luck 2015 Bitfinex liquidity crisis simulated the 2020 liquidity crisis at similar moments on a macro scale?
Zooming out on a large time frame the BBW has never been this coiled up since (2016)
This movement has to break, and Bitcoin has a nice way of making a smaller triangle within the larger Macro Triangle.
Pretty interesting to see how the worst liquidity crisis 2x did not break bitcoins trend, + the biggest leverage (blow out) to the upside with FTX / 3AC also did not break the trend.
Time is short for whatever happens, always seems like forever in the moment.
Note
ARK Invest's 2ed deadline for its spot #Bitcoin ETF application is this Sunday.Will it be approved?
ARKK has been following SEC guidelines to the period. Altering to their requirements working with them perfectly.
What is a good indication is that futures are up and running
(note to people unaware you need a futures market to successfully operate a spot commodity ETF)
If the SEC had no intentions to approve a Spot Bitcoin ETF they would have not approved the futures.
I do believe Arkk deserves the first approved spot ETF followed by the SEC considering shortening the other spot ETF applications, it would only be fair as both the fillings are identical.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.