🅱️ SEC Approves Bitcoin ETF 🎉 | War On Bitcoin Over!

8 Agu 2023

The SEC has made 100% clear that they have no beef against Bitcoin.

They don't want anything to do with it and they just want control of the Altcoins market as Bitcoin is too big of a monster for they to claim power over it or control.

Bitcoin is a virus.
A virus in the good sense.

It infects a system and upgrades it but instead of causing harm it is providing help. Opening the doors for innovation, growth, opportunity, inclusion, alternatives, reducing administrative waste, eradicating global warning through sound energy consumption through mining, etc.

The 700 year old financial system needs an upgrade that's for sure.

The SEC will approve several Bitcoin ETF, this is a hard one but it seems that it has already been decided.

Something like no, yes, no, yes, no, no, no.

If you have a pack of 5, they would say yes to two and no to three, makes sense?

Why and how are they going to go about this?

The SEC picked a fight with Ripple and lost.
They also picked a fight with Binance and Coinbase and they want to safe face.

By approving a Bitcoin ETF, they can weaken Binance's market share and at the same time look good for the institutions and players that want to buy Bitcoin, this will improve their case.

This is a very complex one but I will give it a try.

The way to go about it concerns the public, this is their thinking:

How do we approve this by being the least productive possible?
How can we do this in a way that we hurt and annoy the biggest amount of people?

If you can figure out the answer to these questions then you know exactly how they are going to operate.

Which means that whoever is first in line they will most likely say no, not because of bad paperwork but pure bureaucracy and then somebody else down the line gets a yes and so on and so forth.

Ok, let's go back a little bit because I think I am digressing here.

I think the SEC will approve a few Bitcoin ETF and this is sooner than expected. This would produce a positive effect on the market.

If good news are coming, Bitcoin's price is set to appreciate.
If prices are set to go up, we must be able to find some clues in the charts.

Bitcoin (BTCUSD) Daily

Daily is still early but the signals are positive.
If you ignore the really short-term, the bulls have the upper hand.


The 3D chart is exactly the same, even with a major flash crash Bitcoin would still recover and move up right away.


Bitcoin (BTCUSD) Monthly

The weekly chart is too similar so we ignore that one.

Here is the monthly chart:

Basic and simple, BTCUSD trades above EMA10, EMA50 and EMA21.

So yes, the charts support and up-move, it is just not clear in the short-term.


Conclusion

This is all speculation of course and we have to consider that while I might be right, I can also be wrong.

I can only read the energies and the charts.

The ETFs are now confirmed, the war against Bitcoin is no more.
They might have it with some Cryptos but the SEC already gave up.

They will continue attacking different persons, different projects, different Altcoins but that's a whole different game.

I am seeing "Van..." yes... The rest, we will have to wait.

If you disagree or have a different idea I am more than happy to read what you have to say.

You can always leave a comment or post your own trade idea and share it here, it is an open forum and we encourage discussion so any and all opinions are welcome, we are open.

Namaste.