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    Tag: etf

    Bitcoin New ATH

    The Curse of the BITO ETF is now Over When the CME Futures first came out, it was the day after Bitcoin posted its 20K…

    Chingas X November 9, 2021
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    Goodbye Weekend and Hello Sunshine!

    Action, Action! Read All About It Welcome to Monday, October 25th, 2021.  Pre-Market trading is open for BITO, all upper Gaps are filled on the…

    Chingas X October 25, 2021
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    ETF Day 02 – BTC ATH?

    Day 02 of the BITO BTC ETF Today marks the very first Pre-Market trading for the BITO BTC ETF.  The pictures below show the M15…

    Chingas X October 20, 2021
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    New ATH? Not Yet…

    It doesn’t get much CLOSER Yesterdays High for Bitcoin on Coinbase came within $399 from the previous ATH st on April 14th, earlier this year. …

    Chingas X October 20, 2021
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    The Bulls Are FIRED UP

    Will the 8-Year ETF Deliver as Promised? The Brothers over at Gemini started things off back in 2013 when they filed for the first Bitcoin…

    Chingas X October 19, 2021
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    Bloody Monday? We Shall See

    You Could Hear a Pin Drop The Market is eerily quiet at the moment and that is likely due to the fact that the very…

    Chingas X October 18, 2021
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    It Is DONE

    The Bitcoin ETF Is Here Although absolutely NOTHING with Bitcoin has changed in the last 8 years, it still took the SEC 8 years to…

    Chingas X October 16, 2021
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    Stuck Between Support and Resistance

    Bitcoin Dominance on the Move I know we just spoke about Dominance before but we are reaching a make or break point for Bitcoin and…

    Chingas X October 15, 2021
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    An Actual Bitcoin ETF – Not So Fast!

    SEC Approves Volt Equity ETF For those who have been waiting year after year for the SEC to finally approve a Bitcoin ETF – well…

    Chingas X October 8, 2021
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    1.5T Asset Manager lists 2 Crypto ETFs

    1.5 Trillion Asset Manager lists two Crypto ETFs An American independent investment management company, INVESCO which is managing an estimated 1.5 Trillion Dollars in Assets…

    Trading Room October 7, 2021
    0 Comments

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    Bitcoin New ATH

    Forum Description

    The Curse of the BITO ETF is now Over

    When the CME Futures first came out, it was the day after Bitcoin posted its 20K ATH.  That would remain the ATH for 1080 Days when finally, on December 1st, 2020 Bitcoin traded above $19,891.  However, it took the CME Futures another 16 to finally break its LISTING High.  So, yes, it's safe to say that the CME Futures destroyed the Bitcoin Rally of 2017 and crashed the market. Now here we go again with BITO - the world's first Bitcoin ETF.  BITO launched on October 19th, 2021.  The Bitcoin ATH of $66,999 was on October 20th, 2021.  I would be lying if I said the thought didn't cross my mind that BITO had the potential to destroy the Bitcoin market just as the CME Futures did 4 years ago.  The Daily Candle yesterday put that thought to bed as Bitcoin traded above $66,999 - removing the potential ETF Curse.

    So, what's next?

    Bitcoin is now back in Price Discovery.  This means uncharted territory and the glass ceiling is officially broken once again.  This is when Fibonacci Extensions and Patterns can really help a trader out as he tries to find the next logical area of potential profit-taking.   We can see three different scenarios that range from $83K - $88K.  We can also consider $75K and $80K as "psychological levels" where there is likely to also be some traders peeling a little off the top.

    What's Hot in the AltCoin World?

    LRC on the Move and Litecoin back in the conversation! LRC: Loopring’s purported goal is to combine centralized order matching with decentralized on-blockchain order settlement into a hybridized product that will take the best aspects of both centralized and decentralized exchanges. Yesterday we talked about $2.04 being the next area that we liked.  Well, LRC liked it too.  We have already seen a backtest onto the $2.04 area and we have found support for now.  $3.20 becomes the next focal point if LRC can continue this upward parabola. LTC: The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments. It would appear that Bitcoin has sparked a renewed interest in Litecoin.  Unlike a lot of these other coins we have been talking about, Litecoin is actually down 34% from its previous ATH set earlier this year in May.  Litecoin has a lot of challenges in front of it, including Weekly Historical Levels, local Fibonacci levels, and pure Price Action Support and Resistance.  If Litecoin is to make a run - look for this to clear $500 easily. If you enjoyed this article, consider sharing with friends on Social Media. Lets grow the Community together!
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