No surprise for me either. All this recent rise with little volume was nothing but a bull trap. I can see a scenario where SEC rejects the Bitcoin ETF and then we see the sub 6000 levels again for probably the last time. There is no doubt the big guys are going to bring this lower so they can buy cheap and once the approve the Bitcoin ETF they are ready to take off.
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Absolutely right. We would've seen lower levels a lot earlier if it weren't for shorts being stacked. It's been kind of funny watching this game of chicken between market makers and retail investors. Retail has been getting much wiser lately.
I'm thinking ETF's will get postponed until next year. What do you think?
I think the ETF'S will either be rejected or postponed, but I would guess rejected. I also think either one of these two scenarios will have the same effect on price. The biggest clue that the ETF's are ready to be approved is when Bitcoin hits $5450 - $5775 or I would say $4600.
We'll see. I think most expect a postponement. Which should already be baked into the price and have little effect. A rejection however, would likely send price plummeting in my opinion.