BITCOIN (BTCUSD) – Week 40 – Bullish momentum
El Salvador’s Bitcoin mining efforts are heating up, as the Central American nation has successfully mined Bitcoin using the geothermal energy of a volcano. The Central American country’s president Nayib Bukele tweeted: “We’re still testing and installing, but this is officially the first #Bitcoin mining from the #Volcanode,” he wrote. The update comes only three days after Bukele posted a video of what appears to be a mining center in a remote location, announcing that the country was taking its “first steps.”
The U.S. Securities and Exchange Commission has pushed back the deadlines for four Bitcoin ETF (exchange-traded fund) applications to late 2021. They are among at least a dozen outstanding Bitcoin ETF applications on the SEC's desk, filed by various high-profile companies. They include applications for the Valkyrie XBTO Bitcoin Futures Fund (extended to December 8), the Kryptoin Bitcoin ETF (December 24), the WisdomTree Bitcoin Trust (December 11), and the Global X Bitcoin Trust (November 21).
Technically, this week Bitcoin broke the orange trendline marked on the chart as we were expecting in the last week’s report. We give a high probability for a bullish continuation for the biggest crypto by market capitalization, with or without a pullback that may touch the trendline or the support zone marked on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
The U.S. Securities and Exchange Commission has pushed back the deadlines for four Bitcoin ETF (exchange-traded fund) applications to late 2021. They are among at least a dozen outstanding Bitcoin ETF applications on the SEC's desk, filed by various high-profile companies. They include applications for the Valkyrie XBTO Bitcoin Futures Fund (extended to December 8), the Kryptoin Bitcoin ETF (December 24), the WisdomTree Bitcoin Trust (December 11), and the Global X Bitcoin Trust (November 21).
Technically, this week Bitcoin broke the orange trendline marked on the chart as we were expecting in the last week’s report. We give a high probability for a bullish continuation for the biggest crypto by market capitalization, with or without a pullback that may touch the trendline or the support zone marked on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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