BITCOIN (BTCUSD) – Week 11 – New all-time high
Updated
Grayscale, one of the largest crypto asset managers, announced on Twitter this week that Bitcoin accounts for 36 billion USD of their holdings in the crypto space. Another bitcoin exchange-traded fund (ETF) was listed on the Toronto Stock Exchange on Tuesday. According to an announcement from provider CI Global Asset Management, regulators have approved the final prospectus for the "CI Galaxy Bitcoin ETF." The ETF traded on the Toronto Stock Exchange (TSX) on Tuesday, under the ticker “BTCX.”
New York City-based asset manager WisdomTree Investments has filed with the U.S. Securities and Exchange Commission to launch a Bitcoin exchange-traded fund (ETF) and last but not least a lawmaker in France has signed on to a new petition calling for the French government to allow the country's central bank to buy bitcoin. Among its signatories is Jean-Michel Mis, a member of the National Assembly since 2017 who serves on the Committee of Legal Affairs.
Technically, our analysis last week was right, we saw that the structure of BTC was ready for an up move and it did just that. Now, it broke the top once again, and if we see it consolidating in that area, it will make us think that it will at least push one more up. Corrections are likely going to reach the blue trendline and then reverse.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
New York City-based asset manager WisdomTree Investments has filed with the U.S. Securities and Exchange Commission to launch a Bitcoin exchange-traded fund (ETF) and last but not least a lawmaker in France has signed on to a new petition calling for the French government to allow the country's central bank to buy bitcoin. Among its signatories is Jean-Michel Mis, a member of the National Assembly since 2017 who serves on the Committee of Legal Affairs.
Technically, our analysis last week was right, we saw that the structure of BTC was ready for an up move and it did just that. Now, it broke the top once again, and if we see it consolidating in that area, it will make us think that it will at least push one more up. Corrections are likely going to reach the blue trendline and then reverse.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Note
We said " Corrections are likely going to reach the blue trendline and then reverse".Trade with care.
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