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The Complex RealitiesMany people seem to think this is Bullish. Forgetting the fact (obviously) that it's still 50% from it's $69,000 High. Classic case of retail only seeing what retail want to see and are blinded by every other opinion, including backed by sound logic. When I said all that time ago - let's go long. There was method to the madness, I had already been personally long several years. I explained why as a money manager it was now a thing of interest. Fast foreword a little - the re-accumulation phase. This was the most interesting call of all for me. You see, what I knew would be happening here was the bigger players had been entering and would use techniques to both enter and exit on their own terms. This was simply stunning to watch play out in front of your own eyes. As we rallied away from the re-accumulation zone - retail got greedy and majority of social media was calling for 100k. Instead we had a very distinct pattern start. I tried to warn people, but 100k had their eyes glazed over! All you need to ask yourself, is who's selling. No I don't mean then. I mean now. Here's the hint. As we rallied from that 28k, it was pig ugly, you couldn't mask that move up with digital lipstick. I explained why it would be capped. It needed to go down 3-4 and it would go up 4-5 but it already had it's name marked just above the old All Time High. So we get up to a new high - yet again, calls for 100k came long and loud, 250k, a million dollars. Then it was apparent, people just threw numbers out in the air, rainbow stock to flow models and the reality was, they had less than half a clue! Plan A, B, C and D was all "long only" again not listening to rational or logic. As we dropped down "As I said we would" the next obvious move was the re-distribution. I explained how this would play out. No surprise, it did! We hit $15,000 a long way from the $135,000 worse case your local influencers were shouting for. We now start a long-term accumulation. People with the memory of a fish, think that this move up will clear their red bags. Need I remind you we are still 50% of the ATH. What can we see out on the monthly? Look again Maybe the monthly is too much to wait for? Here's the weekly view. The angle, the volume, the overbought nature... None of these scream - Bullish intent. Retail pumps the price by a couple of thousand dollars and it's again cries for the moon. The Blackrock approval of it's ETF pumped the price artificially and Institutional players are taking advantage. The accumulation phase, is happening, but it is not done - yet. Before you jump into the comments with "Long Only" - back it up with logic, let's create the great debate. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
35
Blackrock (NYSE: BLK) Spurring The ETF AdoptionIt’s been reported that BlackRock has engaged in preliminary discussions with Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading, with regards to their potential involvement as market makers for a spot Bitcoin ETF. Amid the crypto crackdown, a BTC ETF, if approved, would open a new pathway for U.S.-based firms to get a piece of the crypto action – in a way that plays to their conventional strengths. Some of the world's largest market-making firms are in the mix to potentially provide liquidity for BlackRock's eagerly awaited bitcoin ETF if regulators approve the product, according to a person with knowledge of the matter. Trading giants Jane Street, Virtu Financial, Jump Trading and Hudson River Trading have held talks with BlackRock about a market-making role, according to a BlackRock slide deck reviewed by the person familiar with the matter. Assuming the U.S. Securities and Exchange Commission approves some or all of the dozen or so applications for bitcoin ETFs (including the one from BlackRock, the world's largest asset manager), that would open a new pathway for U.S.-based firms to get a piece of the action in crypto – in a way that plays to their conventional strengths. Being a market-maker for ETFs, which trade on exchanges just like stocks, requires a level of sophistication and automation that only a relatively few companies can achieve. Market makers are vital to ETFs. They are responsible for creating and redeeming new shares of an ETF, a role designed to keep its price tethered to the price implied by the value of the ETF's holdings. One of the best examples of why such a create-and-redeem structure is important actually comes from crypto. Grayscale Investments offers a product called the Grayscale Bitcoin Trust (GBTC) whose price has over the past few years wandered dramatically far away from the billions of dollars worth of bitcoin (BTC) that it owns. Price Momentum BLK is trading near the bottom of its 52-week range and below its 200-day simple moving average.
NYSE:BLKLong
by DEXWireNews
Market Update - October 27th Bitcoin hits $35k amid more encouraging ETF news: BTC soared from ~$30k USD to ~$35k earlier in the week, before settling around $34k USD by Friday. Spurring the price action, news began circulating on Monday that BlackRock’s spot bitcoin ETF, with the ticker IBTC, was listed with the DTCC, leading to speculation that the ETF was nearing approval. Bitcoin open interest on CME hits all-time highs: Open interest for bitcoin derivatives on the Chicago Mercantile Exchange (CME) hit 100,000 BTC (~$3.4 billion USD). The trend may reflect growing interest in bitcoin from institutional investors as the conversation around a coming spot bitcoin ETF continues to heat up. SEC directed to review Grayscale’s spot bitcoin ETF application: A US federal court issued a mandate directing the SEC to review Grayscale's application for a spot bitcoin ETF. Grayscale submitted a registration statement to the SEC on October 19, stating its intention to list shares of its spot bitcoin ETF on the New York Stock Exchange Arca under the ticker GBTC. Q3 GDP beats estimates, and treasury yields continue to rise: Third-quarter US GDP showed robust growth of 4.9% on an annual basis, surpassing estimates of 4.7%. Treasury yields continued to rise, putting additional pressure on equities. Yields on the 10-year treasury surpassed 5% on Monday, hitting its highest level in over a decade, but has since dipped to the 4.8% range. 🤝Topic of the Week: Basic Trading Order Types ➡️ Read more here
GEMINI:BTCUSD
by Gemini
BlackRock's Big MoveIn a week marked by substantial financial developments, none have captivated the attention of investors quite like the unfolding saga of BlackRock's Bitcoin ETF. The focus began to shift back onto the ETF topic after the iShares Bitcoin Trust was officially listed on the Depository Trust & Clearing Corporation (DTCC), a crucial component of the U.S. market infrastructure. Adding to this momentum, BlackRock has made amendments to its ETF filing to indicate the possibility of seeding the ETF this month. While these steps do not guarantee approval, they are widely seen as bolstering confidence in an eventual SEC endorsement. In a sense, they mark a continuation of the approval process. However, it's crucial to temper expectations, as it's unlikely that the SEC will make a quick decision. Following its historical approach during the approval process for BTC/ETH Futures ETFs, the SEC is expected to grant approval to multiple fund managers simultaneously. Given this context, a decision might be deferred until early next year, as the SEC awaits other applications to meet the criteria reportedly satisfied by BlackRock. Despite this uncertainty, BlackRock's proactive steps seem designed to assert its 'first-mover' advantage in the market, regardless of whether the SEC eventually confers it. In a separate yet related development, the DC Circuit Court of Appeals has formally closed the Grayscale case, requiring the SEC to re-evaluate Grayscale's application to convert GBTC to a spot ETF. Depending on the SEC's decision, this could either pave the way for more accessible cryptocurrency investment products or introduce additional regulatory hurdles. To underscore the market sentiment, Bitcoin's recent surge past the 35k mark indicates that the market is increasingly factoring in the likelihood of an ETF approval, with the timing of such an event being the only remaining question. In conclusion, the approval of a Bitcoin ETF could not only be a financial game-changer but also a pivotal moment for the asset class as a whole. By offering a straightforward and regulated path for investors, it promises to attract a surge of capital particularly from the institutional sector that could catalyze the next bull market. As cryptocurrencies gain further legitimacy, the SEC's eventual endorsement would catapult cryptocurrencies from the periphery right into the core of the financial world.
Long
by Coinrule
3
Coin Watch: Bitcoin (BTC)Hi guys, I've been thinking of how to make useful ideas, and here's what I came up with. I will be watching useful coins in the top 100, starting with a high timeframe analysis and then continuing on the intraday regularly. Let's start with Bitcoin, the most popular digital currency, which offers to be your own bank, with a limited supply of 21 millions. On the weekly chart from above, we clearly are bullish. From the bottom of 15 500$, price is making higher lows and also higher highs, although the pace in new highs is weakening. The daily chart on the right shows consolidation areas with breaks and currently in an uptrend shown by an ascending channel. It's good to note that the RSI is also rising its support which is a sign of an uptrend. Now onto the 4 hours: On monday, a fake news about the Bitcoin ETF went viral on social media, creating a pump in price in just a few hours before correcting once things got cleared out. To me this is the proof that people have been waiting for the news to buy and that it is not priced in yet. Also noting that the open interest is only half way up despise that huge move. We can expect further action in the near future. Stay tuned!
BITSTAMP:BTCUSDLong
by cyatophilum
8
BTC/USDT = I AM STILL STICKING TO THIS IDEABEARISH Analysis of the Chart: BEARISH BEARISH BEARISH... OUR PREDICTION IS STILL IN PLAY. I will quit it when we break the previous high of 32K. But here is why I am bearish... The 20-day moving ave­rage (MA), represe­nted by the red line­, is currently below both the 50-day MA (ye­llow line) and the 150-day MA (sky blue line­). This pattern typically indicates a bearish signal, as the­ short-term MA is lower than the longe­r-term MAs. Additionally, the prices are­ currently below rece­nt averages, which suggests a possible­ downtrend. While the­ 20 MA and the 50 MA show a slight convergence­, it's important to note that the 20 MA has not yet crosse­d above the 50 MA. This reinforce­s the bearish outlook. Heikin Ashi candles: The He­ikin Ashi method provides a smoother chart that filte­rs out market noise. In this method, gre­en candles indicate buying mome­ntum, while red candles indicate­ selling momentum. Although there­ are a few gree­n candles present, the­y are followed by red candle­s, suggesting a possible reve­rsal from a bullish to bearish trend. Market Structure: When we­ look at the chart, it is evident that Bitcoin is forming a patte­rn of lower highs (LH) and higher lows (HL), creating a we­dge or triangle shape. While­ these patterns can bre­ak out in either direction, conside­ring other indicators and the prevailing be­arish sentiment, it see­ms more likely for Bitcoin to break downwards. SMART MONEY CONCEPT Indicators: When analyzing marke­t trends, it's important to pay attention to various indicators such as "ChCH" and "EQ." These­ indicators can help identify shifts in price action and e­quilibrium zones. If multiple "ChCH" labels are­ present, it may indicate a significant change­ in market character, potentially sugge­sting indecision and a possible bearish tre­nd when considering other factors. Strong Low Zone: On the right side­ of the chart, there is a zone­ labeled as "Strong Low." This area has historically shown support, with buye­rs entering the marke­t. If the price approaches and bre­aks below this level, it would confirm the­ prevailing bearish sentime­nt. Conclusion: RephraseAfter analyzing the­ moving averages, Heikin Ashi candle­ trends, and market structure, it is cle­ar that the market is showing a bearish bias in the­ near term. There­ is a noticeable tension be­tween buyers and se­llers, with sellers appe­aring to have an advantage.
Short
by osodatsismoso
17
BTC UPTOBER UPDATE Just a quick update for BTC, after a very strong rally last week price has continued to rally this week also. My initial thoughts for this rally were price would struggle to break through the 32k level which can be seen as the midpoint of the range set from this years lows up to the right shoulder of the head and shoulders reversal pattern confirming the end of the bullrun. The range shows just how important the 32k level is, it's also aligned with the midpoint of the range. Typically the midpoint is a place to take action, to flip this level for the first time in almost 1.5 years cannot be taken lightly. I would like to see a retest of that level to confirm as new support, only then will I start to get bullish. I still have a feeling there's one last drop towards yearly open, I have said this a lot in the past idea posts. However, if price finds its feet above the range midpoint it becomes a lot more difficult, maybe the whales have already loaded up their bags? Blackrock and co already stocked up for their ETF's to be approved by the SEC? I'm not married to this idea of retesting yearly open, it's still my preferred plan. Acceptance above 32k and I will go back to the drawing board.
INDEX:BTCUSD
by ProR35
bearish retest of top rangeThings are moving fast. Too fast. The last time things moved this fast was before a big blowout. Looking to get in to a 1x short over the next weeks depending on how chart looks. Maybe we see a wick up on the next monthly candle and then retrace? Good luck everyone, good luck to the people who are buying this to hold for longer. It's not back sorry this is not how bull markets start or are being made, .. this is the first lower high and everyone who is still holding this ponzi or still desperate enough to trade this day by day and follow altponzis gets exited. If youre in a rush to make money youre in a rush to lose money. patient.
BITSTAMP:BTCUSDShort
by ellyn2121
🚨 URGENT: iShares Bitcoin Trust Listed on DTCC! BTC Breaks $31K🚨 URGENT: BTC Breaks Through $31K! 🚀 Next Stop: $44K? 🎯 Text: Hey Folks! 🙌 Urgent news—BTC just busted through some major resistances. We're talking $31,500 and $31,000 acting as support now! 💪 Time for a reality check: 3rd attempt to soar past FWB:31K : Success! 🥳 Next stop if we stay above FWB:31K : A rapid ride to $44K! 🚀 *Good News Alert: The iShares Bitcoin Trust just got listed on DTCC! 🎉 So, an ETF approval is almost a done deal. 📈 Last FUD: JP Morgan blocking crypto in the UK—seems like their loss. We said it was a chase for cheaper BTC, and boom! 🎯 (Link) Odds & Ends: 55% chance we'll rise without dropping back down. 📈 30% chance of a dip to $30K before bouncing back up. ⬆️ 15% chance we might go lower. ⬇️ That’s it for now. If you’ve got Qs, hit up the comments below. 🔽 Stay tuned for more updates! One Love, The FXPROFESSOR 💙 * The Depository Trust & Clearing Corporation (DTCC) is a U.S. financial services company that provides clearing and settlement services for financial markets. When the iShares Bitcoin Trust is listed on the DTCC, it indicates that the trust's trades can now be cleared and settled through this well-established financial institution. This is big because it provides an extra layer of security and legitimacy to trading the asset. The listing on DTCC is often considered a step toward getting an ETF (Exchange-Traded Fund) approved. ETFs are investment funds traded on stock exchanges, and they can make it easier for retail and institutional investors to invest in assets like Bitcoin without actually holding the cryptocurrency themselves. So, when you hear that the iShares Bitcoin Trust got listed on DTCC, it suggests that an ETF approval could be just around the corner. This would be a huge deal for Bitcoin and the crypto market as a whole, likely bringing in more liquidity and potentially pushing up prices. twitter link: x.com
Long
by FX_Professor
5
Mastering the Bitcoin Boom: Diverse Investment PathsIn this idea, we will explore different ways to amplify gains in a Bitcoin Bul. We will look at potential advanced tactics to capture further returns. My assumption is that Bitcoin is already in a bull market; however, the concepts I will talk about here will be valuable regardless of when the bull market begins. Bitcoin will most likely outperform most crypto assets due to the regulatory uncertainty and the potential upcoming ETF, so we don't think it's worth holding most altcoins out there. Yet there are some exciting ways to bet on Bitcoin indirectly to try to capture further upside, including altcoins. To do that, we will first look at specific key parameters that can serve as clues as to what we should be looking for in the assets we want to bet on: A) The beneficiaries of ordinals and the usage of the Bitcoin BlockChain, B) Coins/Tokens with a lot of BTC on their Balance sheet, C) Companies with BTC on their Balance sheet, D) Platforms that give access to BTC trading, E) Companies waiting for their BTC to be returned. F) Those that will benefit from an ETF. 1) Bitcoin miners. If the Bitcoin blockchain sees high usage, fees will go up, and miners will profit massively. As BTC rallies, more and more people will want to use Ordinals and Inscriptions and look for new ways to use Bitcoin. Miners also have BTC on their balance sheets, so their value will appreciate even further. WGMI is an attractive ETF that someone could buy as a bet on Bitcoin Miners, which looks pretty bullish after a massive collapse in 2022. Most alt-layer 1 protocols are dead and aren't coming back. Currently, there aren't many Bitcoin Layer 2 protocols. The only ones are Stacks and Rootstock (STX and RIF), both looking decent vs BTC. b) Tezos, Lisk, and Eos have a ton of BTC on their balance sheet. Based on my calculations, their market caps are smaller than the value of the BTC they hold. If their teams decide to return some of that BTC to holders, the prices of those projects will skyrocket. All these projects that are in development for 5+ years but haven't gained any reactions. They are looking quite bearish, yet the lower their ratios vs BTC go, the more attractive they are as a speculative buy, as they could easily double or triple in value. c) Microstrategy's Market Cap is worth the same as all the BTC on its balance sheet. It's currently at a 500m loss from the purchases and has a ton of debt; however, if BTC rallies and Microstategy finds ways to build on Bitcoin, its stock price has no ceiling. It's like a leveraged Bitcoin play with no risk of being liquidated. d) Coinbase has seen its competition rekt. Bittrex gone. Binance US is out. Gemini is suffering and can't truly compete with Coinbase. Coinbase plans to expand abroad and even launch its Ethereum Layer 2 protocol. Most FUD around regulations has already been priced in, and any positive news will disproportionately affect the price. As the exchange will be used as the custody solution for Blackrock's ETF, it will directly benefit from the ETF, despite potentially fewer people trading Bitcoin on it. ARKK holds most of the stock's supply and is unlikely to sell soon. e) LEO - This is Bitfinex's exchange token. If and when the US gov will return to Bitfinex the BTC it got from the Bitfinex hack back in 2016, that BTC will be used to buy back LEO tokens. When the FBI caught the hackers in 2022, LEOBTC jumped 85% on the assumption that the coins would be given back. I believe that, eventually, these coins will be returned and that LEOBTC will trade near or even above its ATHs. From here, that means a 100% gain or more. f) GBTC - As mentioned several times in my previous ideas, I believe an ETF will be approved, or something else will occur that will close the current GBTC discount. GBTC is a Bitcoin Trust trading at a 35-40% discount to NAV. That means that if that GBTC starts trading to its actual NAV, it will go up 70-80% from here relative to Bitcoin.
INDEX:BTCUSDLong
by BitcoinMacro
Predicting Crypto's Journey Amid LawsuitsBefore anyone reads this idea, I'd recommend reading my previous two ideas about Coinbase and Grayscale. Definitely worth the read to get a better grasp of the current situation. The main ideas I will analyze are that the SEC suing Coinbase and Binance are the final things that had to happen before a Bitcoin ETF would be approved and that the SEC could lose some of its court battles against crypto companies. Then I will close with some solid technical and fundamental analysis of the current price action. Wall Street Interests and the SEC's Anti-Crypto Native Firms Stance The SEC seems to be trapped, as it has too many court cases open and won't be able to win all of them. It's currently struggling against Coinbase and its demands for clear regulations and, in its case against Grayscale too, which seems to be doing well in court. Against Grayscale and Coinbase, the SEC's cases are very weak. It's clear that the SEC was just stalling everything and damaging the US industry in the short to medium term so that the TradFi guys could take control. Now they've reached their limit, as the industry is coming together and attacking it en mass. The political pressure against the SEC has been mounting, which is why Blackrock has filed for its Bitcoin ETF. It's no coincidence that TradFi firms are coming out after the recent lawsuits and talking about how they want to get involved. The CFTC approved futures related products for Coinbase and the Cboe, confirming that other major players might want to be engaged at a higher level. Essentially it's not the SEC being anti-crypto; it's just the SEC being anti-crypto native firms and wanting to pave the way for Wall Street. Securities, Market Manipulation, and the Complexities of SEC Approval What's been super clear is that BTC isn't a commodity; however, for an ETF to be approved, the SEC had to deal with all shady exchanges and practices in the US. It would be impossible for them not to have dealt with Binance before approving an ETF. To me, it's clear that many of the services Coinbase and Binance are offering are securities, and it's also been clear that Binance has done many shady things in the past. The main issues for the SEC to approve an ETF would be that these exchanges would be trading securities along with Bitcoin, and market manipulation or an FTX-like collapse would create many issues. What is positive for Coinbase and Binance, though, despite my opinion about what is a security and what is not, is that the SEC approved of Coinbase's business model before it went public and that to this day, it still doesn't offer clear guidance for crypto firms. Anticipated SEC Lawsuits and the Impact on Coinbase and Binance Something significant to note is that nothing that has happened with Coinbase and Binance wasn't expected. We've had so much news about the SEC potentially suing both that it was almost priced in. Alts clearly got shocked, and they might feel even more pain if the SEC wins against Ripple, as some will probably be deemed securities. Yet beyond that, I don't think the SEC will get everything it wants. It has failed so spectacularly that the US judges won't be able to give it all it wants. It might have some wins, but overall, there is no way that it can damage the US industry too much. Of course, it can deal substantial damage; however, even if the SEC itself can't, the big players behind Blackrocks ETF might find other ways to shake out the weak hands before taking the market higher. The Dawn of a New Era: A Turning Point in Crypto Regulations It appears that we've reached a turning point in crypto regulations. It's unlikely that regulations could get any worse from here, which is a positive sign for the market. We're currently facing an environment with almost no significant regulatory risks, only potential regulatory upsides. The crypto market has demonstrated incredible resilience, adapting and evolving in ways that make it less susceptible to regulatory hindrances. The SEC is under increasing pressure to clarify its stance on crypto regulations, while other countries are stepping up and providing more precise guidelines, attracting a growing number of crypto businesses. This trend fosters the expansion of exchanges outside the US and the development of more favorable regulations for the crypto space. In my opinion, we will have regulatory clarity in the US by the end of the year. An Outlook on the Crypto Market: Positive and Negative Factors Some positives are 1. China is pumping liquidity into its economy, and as Hong Kong has just opened its doors to crypto, some of that liquidity will flow into crypto, 2. Celsius might convert alts into BTC and ETH (directing liquidity to these two), 3. Voyager distributing cash to creditors (some will go back into crypto), 4. FTX 2.0 is in the cards, which means that 2B USD could come back to the market, along with several altcoins that could be converted into BTC & ETH (FTX & Alameda don't have much BTC or ETH). Some potential negatives are 1. Mt.Gox, Bitfinex & US Gov distributing/selling their BTC, 2. Bankrupt companies selling their coins/tokens, 3. Gemini/DCG going bankrupt and forced to be liquidated, 4. More lawsuits and losing court battles, 5. Stock market collapse. Uncertain Stock Market Conditions and Crypto Performance Number 5 is something I would like to clarify here, as stocks may have topped. Nothing is certain, but we need to be aware of the situation. Yesterday we had a Triple Witching (a term used in the stock market to describe the simultaneous expiration of three different types of derivative contracts, namely stock options, stock index futures, and stock index options, all on the same trading day. This happens four times a year, on the third Friday of March, June, September, and December.), and we will have a three-day weekend. This is the perfect setting for a top, especially as SPX has hit SPX hit 4450 and my BBs with STD 3 upper band, Nasdaq swept its Q1 2022 highs, and Russell 3000 the breakdown zone, while all are extremely overbought. Yields keep going higher, as Oil, Natural Gas, Wheat, Corn, etc. show strength, which could push rates and the dollar higher, and therefore risk assets could have a dip. Finally, based on some sentiment-related data, we could be close to an extreme point in stock prices. In my opinion, this is not the time to take excessive risks but the time to take profits on stocks. That doesn't mean crypto will collapse, as crypto has been underperforming for months and usually moves along with stocks. Therefore, if it were to simply catch up with tech stocks, 33k would be an easy target. The best way to express bullishness in the long term is to bet on BTC, ETH, GBTC, and COIN, and I would avoid any other coins for now. Technical Analysis GBTC had a massive collapse, its discount was near 50% (relative to BTC), and it rallied to fill a major gap. Filled the gap, had a correction, retested the breakout zone, bottomed there, and is now going up. If someone buys GBTC here, they will make 75% extra on their trade when that discount closes relative to how much they would have made by simply holding BTC. BITO was down 25%. Partially filled an FVG on a gap down and bottomed there. It has several gaps to fill higher, but only a few lower. The gaps higher are pretty important, as some of them are double/triple gaps (gaps within gaps), making them more critical. BTC and ETH on CME have some important gaps higher that could be acting like magnets, but both are at resistance now. BTC is at the horizontal and Fibonacci pivot resistance combo, while ETH is testing its critical breakdown zone. Overall, Bitcoin has some double/triple tops higher or FVGs, which is liquidity ready to be tapped. However, that holds for levels lower too. The most important levels right now are 27500, 30000, 33000, 35300, and 37500 to the upside and 22600, 21000, 18500, 14000, and 12500 to the downside. Bitcoin seems to have formed the perfect bottom after it formed two double bottoms, one at 25800 and one at 25350, both of which got broken slowly, and the final leg down hit the 25200 breakout zone. It actually fell below 25000, which was a round number, and trapped shorts, which thought the break below 25000 would be very bearish. Finally, it also seems to be within a massive falling wedge, but it's unclear which direction it will take. There is a potential trap in either direction, so I wouldn't want to read too much into it. My view is that someone should respect all the levels I have mentioned and potentially take profits or place entries for short to medium-term trades on them.
COINBASE:BTCUSDLong
by BitcoinMacro
15
Bitcoin Gains as Spot Bitcoin ETF Amendments Filed by Firms Bitcoin (BTC) reached a two-month high of $28.8K, up 2.8% in the last 24 hours, on the back of revisions to spot Bitcoin ETF registrations in the United States. Fidelity has filed a modification to its planned spot Bitcoin ETF, the Wise Origin Bitcoin Trust, following in the footsteps of Ark Invest and Invesco. The amendment covers safeguards for customers' Bitcoin in custody accounts, as well as hazards linked with the regulatory landscape around cryptocurrencies. These recent filings indicate continuous conversations between ETF providers and the Securities and Exchange Commission (SEC), which is feeding traders' optimism. Analysts believe that a spot Bitcoin ETF, if allowed, could contribute at least $1 trillion to the current market value of $1.1 trillion. Despite misleading rumors earlier in the week about the approval of the spot Bitcoin ETF, Bitcoin's price has remained over the $28K mark. The amendments filed by Fidelity and other firms have sparked bullish sentiment among traders and market observers.
BINANCE:BTCUSDLong
by DEXWireNews
Black rocks Bitcoin ETF SagaFact: The US Securities and Exchange Commission Will Not Appeal the Grayscale (GBTC) ETF Ruling A Bitcoin Trust is a financial vehicle where investors pool their funds to buy and hold Bitcoin. Bitcoin Trusts operate like a traditional investment and are traded on the over-the-counter (OTC) stock exchange. Bitcoin Trusts indirectly own Bitcoin through the trust’s holdings. Conversely, a Bitcoin ETF (Exchange-Traded Fund) is a fund that tracks the price of Bitcoin and is traded on stock exchanges, just like a stock. ETF investors buy shares of the fund, which in turn owns Bitcoin. Bitcoin ETFs are more optimal because they directly own Bitcoin, and offer investors more liquidity and flexibility than Bitcoin Trusts. Grayscale runs the world’s largest Bitcoin Trust. However, Grayscale has been working to clear the “red tape” of switching from a Bitcoin Trust to an ETF for the past two years. Because the SEC did not act before the Friday deadline, the SEC will not appeal an August court loss over Grayscale’s ETF conversion application. In a statement to CoinDesk, a Grayscale spokeswoman said: “The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC’s approval, and we look forward to sharing more information as soon as practicable.” Fiction: The SEC Approved Blackrock’s (BLK) Bitcoin ETF Early Monday morning, CoinTelegraph, one of crypto’s most followed news sites, tweeted news that the US Securities and Exchange Commission had approved Blackrock’s Ishares spot Bitcoin ETF. As a result, Bitcoin spiked to two-month highs and neared the psychologically important $30,000 level before reversing. However, there was one major problem – the tweet was a hoax. A few hours after sending Bitcoin soaring, CoinTelegraph retracted its tweet and said it was investigating why false news was spread. Meanwhile, Blackrock, the world’s largest asset manager, confirmed that the headline was false and said the Bitcoin application is still under review by the SEC.
NYSE:BLKLong
by DEXWireNews
SPY S&P 500 ETF 2023 Forecast. CPI Report PredictionAfter those Put options went to the target: My timeline for SPY S&P 500 ETF after the CPI report on Feb 14 is this: 1. CPI data will come better than expected. The medium forecast in 6.2, I expect 6 - 6.1. - The market will be exuberant afterwards and SPY will reach $431 by March 1st, thinking that the FED won the fight against inflation. 2. While inflation continues to be sticky in March, the FED will continue increasing interest rates and won`t stop until something cracks in the economy. Another 25bps increase. - The market is expected to react and the SPY will reach $376. 3. They year will end in a positive note, the was in Ukraine will end and the supply chain disruption that was one of the factors of high inflation, will be restored. Inflation don to 3%. My prediction for SPY by the end of the year is $436, a 15% increase YOY. Looking forward to read your opinion about it!
AMEX:SPYLong
by TopgOptions
2
Bitcoin manipulation and scenarios of further price movement 🔥Monday started very stormy for the crypto market.🔥💥⚡️📉 And it showed that not only Elon Musk can manipulate the market. 😆 And while waiting for positive news, a random fake can create a storm in the desert. What happened today, when Mr. Bitcoin flew from 27.9k to 30k. The truth came out within 5 minutes, regarding BTC-ETF, and the price returned back, from where it started its flight "to heaven". 🗣What is my opinion: We have a lot of uncollected liquidity left at the bottom, which is needed, at a minimum, to break through 30K, as a maximum to go above 30+K. Liquidity is collected at the levels: 27.1K, 26.6K, 26K. That is where the price should come. Given that today the price has returned to the ascending D1 Channel, several scenarios are possible: 🔲1. The price will now move within the price channel, forming a Head and Shoulders, after which it will take away liquidity. 🔲2. The price will break through the ascending channel immediately and, having tested it, will take away liquidity. In any of the cases ‼️ ALWAYS ‼️ calculate your risks and operate your money management correctly. 🧰 The market is always unpredictable. 🔥 And very often, in addition to the news factor, other fundamental and statistical factors coincide, which greatly affect volatility. CRYPTOCAP:BTC #BinanceSquare #Binance #Bitcoin #BTC #etf
BITSTAMP:BTCUSDShort
by TrEKone
BITCOIN SPOT ETF RUMOURS!Bitcoin (BTCUSD) has spiked up by an enormous 2,090 PIPS (7.50%) in the last hourly candle, on the rumour that a Bitcoin Spot ETF application has been approved by the SEC. BlackRock has come out to deny it, calling it 'fake news'. Just like that market crashed back down & wiped out its 7.50% gain. In the process trapping a lot of new buyers, taking out sellers & liquidating them both in the process. Ask yourself, who gains at times like this? The average, everyday person? No. It's the governments & institutions who release these rumours, in order to screw the everyday investor who doesn't know how to professionally operate in the markets.
COINBASE:BTCUSDShort
by BA_Investments
Bitcoin Trades this MorningTraders, As you know, my original target is 31,600. Obviously, from the chart, you can see that 30k is significant resistance as well. Because of the quick pump this morning due to spot ETF approval news, I sold half my BTC at that 30k level. After dropping back down I decided to re-enter at 28k thinking that we'll now use that 200-day SMA for support. Overall target still remains 31,600, however, I may make another play at 30k pending price action, volatility, etc? SLs are 24,500 but honestly, I am considering taking them out completely and simply DCA'ing in another 10% of the total port for every level down we hit (if we get that lucky). We are getting close to moon time now for BTC and I don't want to be shaken out on the way down the way shorts were liquidated just this morning. I'll let you all know if/when I remove my stops. Best, Stew
INDEX:BTCUSDLong
by stewdamus
🔥 Bitcoin Spot ETF Approved: BUY THE RUMOR & SELL THE NEWS 🚨The BTC spot ETF has finally been approved, but will it result in the massive bullish pump that EVERYONE has been expecting. My answer: No. It's public knowledge that the Bitcoin spot ETF will be approved at some point now for months. Thus, most traders have already bought a position in anticipation. Like nearly every ETH/BTC ETF news we got this year, I'm anticipating this to be a Sell The News event. If there's something that I've learned over the years, it would be that if everyone expects a certain outcome, the opposite will often happen. Yes, this is long-term great news for Bitcoin. However, I highly doubt we're going to see the massive shift in trend that people have been hoping for. Nevertheless, I'm happy to be wrong, as a new high this year would definitely be against my expectation. The market has to prove it wants to go up first before I believe it. Be warned.
INDEX:BTCUSDShort
by FieryTrading
26
People want to earn but not learnThe issue is everyone wants to make money (well, maybe not everyone) but nobody wants to take the time to learn how to do it properly. This is NOT a sales pitch by the way! it's FACT!! People often ask why I bash influencers so much, it's mainly for this reason. Majority of noobs, come into trading expecting to make a fortune. If only it was that easy, every man and his dog would be a professional trader. Over the years, I have talked about things like Bots and AI that are programmed to make you money - think logically, if again it is this easy wouldn't the founders go to the bank, loan $10million based on their results and just not bother selling and shilling to customers and retail. NOBODY wants to provide customer service, especially to the world's population. Unfortunately, regardless of the market. Trust me if you stick around long enough you get to see this behaviour in Forex, Commodities, Stocks and more recently crypto with a splash of A.I. The story goes pretty much the same way. "man (or woman) hears about an opportunity to make money through a thing called trading, they do their research which leads to the old You of Tube and that leads to "Lamborghini promises from kids with fake watches, drawing random trendlines on 3 minute charts" There's often a "sign-up" bonus if you click their shill link. So let's get this straight, they make money on watch time and those links you click. The reason I chose fish in the image above, is that most people have memories that last about 2 seconds. Mark Cuban said "everyone is a genius in a bull market" Algorithms work and influencers claim to be experts with 3 months of experience. Easy to show in a market only going one way. Trading is hard enough, let alone having the ability to lose money from scams. If a trading algorithms promises a 90% win rate - run and don't buy it. ============================================================== There are fundamental things to do and you can deploy to get you off on the right track. Firstly think of the obvious. 90% of new traders lose 90% of their money in only 90 days. Hence a 50% sign-up bonus whereby you think you gained "free cash" often has small print that you can't access it until you lost your original investment. Affiliates tend to get 25% or more of the deposit - the exchanges know full well, your about to lose your money. Second thing I try to emphasis for newer traders, is that you need to treat trading as a profession. You wouldn't watch a video and expect to be a doctor, you also wouldn't buy an algorithm or Artificial Intelligence software and expect to become New York's latest Hot Shot Lawyer You see where this is going? There is no secret sauce, no silver bullet and no short cuts. If you want to trade and make money trading, you need the basics. You need to keep doing the basics well and evolve your mindset more than a strategy. Areas that will really help you include proper risk management. If your willing to be sat in negative 20, 30 or even 50% equity positions. This won't take you long to lose your entire trading pot. Instead risking 1-2% with a risk strategy of 2 -1 or greater. it's a slower game, but it keeps you playing the game. If you take a 3 or even a 4 reward trade with only 1 risk. For every time you are right, it's giving you 4 times as much as when you are wrong. Imagine winning 20% of your trading days and still being at breakeven... simple 1:4 ratio. This is only one small aspect to keep in mind. As I mentioned above, if strategies or software is pitched with high percentage win rates - run. You need to understand the market acts differently and past results do not indicate future performance. Everyone is a genius in a bull market, remember. You do not need to go looking for the silver bullet. These strategies do not exist, instead spend the time working on strategies that can be consistent in various market conditions. This is no small task, your strategy might identify entries in a counter trend differently than it would in say a ranging market. The answer to resolve this, is BACKTESTING Don't just run your strategy on replay mode, although @TradingView has a great little tool for this. Spend the time to look at things such as "repainting" this means that when your strategy triggers an entry, does it disappear and reappear. If so, do some manual back testing. Then Dig deeper and analyse the type of market condition it was more profitable or less profitable. This could be things like "I lose more on a Monday, compared to other days" or when the market goes sideways, It triggers too many trades. I've written several articles here on pure education. Here's a few examples. In this post (worth clicking on) it has a whole bunch of lessons inside. Think of trading like you would a university course, there's plenty to learn but you can have some fun along the way! Stay safe! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDEducation
by Mayfair_Ventures
37