News on SEC extending deadline on CBOE ETF came out yesterday but before that the price chart already move quite abit before the general public see it. Well i was still quite bearish waiting for the test of 6000 zone again before we rally to the big descending triangle top around 6800 zone the blue markers marked awhile back which is about time something coming out from the SEC decision which i expected to drag again and it did happen. Well i was wrong about the timing plus didn't notice the 2 prior bullish candle with volume surge, lucky though i was expecting a breakout and set orders for upside breakout above 6550 which i got filled nicely and ride the breakout rally. Love the moment when you're wrong but profiting.
By SEC delaying instead of what they did to others rejecting, kinda of indirectly giving the impression there's still chance of this passing.
Almost 100completion on the breakout price target for the double bottom around 6850, should have take some profit off when target it hit. Now rally moment sliding off from profit taking and resistance around 6750 zone forming a possible mini HS. Possible consolidation over the next few days till we near the intersection around the big descending triangle top, not likely to push through thou and whalebears might be active again. Ultimately the whale vol movement will decide.
News: (Current) SEC extend deadline again
https://cointelegraph.com/news/us-sec-asks-for-further-comment-regarding-vaneck-bitcoin-etf
From 7 Aug 2018 ( https://cointelegraph.com/news/us-sec-postpones-decision-regarding-bitcoin-exchange-traded-fund )
Section 19(b)(2) of the Act5
provides that within 45 days of the publication of notice of
the filing of a proposed rule change, or within such longer period up to 90 days as the
Commission may designate
45 days (22 Sep 2018)
90 days (7 Nov 2018)
180 days (7 Feb 2019)
240 days (7 Apr 2019
previous deadline extension in aug 2018 https://news.bitcoin.com/sec-vaneck-solidx-bitcoin-etf/
https://hackernoon.com/understanding-the-secs-decision-to-delay-on-bitcoin-etfs-11b2323f32b7
| (Upcoming) CBOE BITCOIN ETF, 30 Sep 2018 (may be extended again up to 240days)
| G20 FATF, Oct 2018
Short term moving average (day candle) : looking bullish, pending uptrend follow thru
RSI : -
Network Value to Transactions Ratio : (180)
Bitfinex Margin Long/Short Volume Ratio : 0.86 (becoming more bullish)
Depth Chart : (S) | (R) -
Weekly Timeframe : -
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