BTC price punched through resistance at $1080 and managed to exit the turquoise sine wave in the chart. It currently appears to be facing resistance ~$1134 as has previously been expressed by the blue diagonal resistance line. If it succeeds in breaking through this line we are around $30 short of challenging last year's high. Momentum in relation to the upcoming ETF decision could possibly carry the price up to the $1400 mark.
Various sources have highlighted the chance of the ETF succeeding as between 10% - 25%. Which means that as the date approaches we get on shakier ground. And if it doesn't pass, the fall will be substantial. We also have to stay abreast of any news coming out of China. Deposits and withdrawals are still on hold across most exchanges and we also tend to get news from the PBOC when BTC is at a high which turns sentiment negative. Trade safe!
RE: Bitcoin Long-term Perspective