The topic of Bitcoin Spot ETFs remains exciting. Now many analysts expect that only those ETF applications that submit on a “cash-created” basis will be approved by the SEC. The SEC is concerned that the “in kind” model could be exploited for money laundering, which is why ETF shares should only be available for cash. To what extent this affects expectations regarding the price potential of ETFs remains to be seen.
Meanwhile, yesterday’s daily Bitcoin price candle closed above the necklines, about $200 away from the $44,000 mark. The retest to the old highs has already taken place. The chances are therefore good that the Bitcoin price will soon break its annual high. The bullish structure is still in tact on both the daily and 4-hour charts. If Bitcoin breaks through $44,000, an impulsive rise can be expected.
Bitcoin price: Important supports and resistances
Support levels: $43,390 / $43,000
Resistance levels: $44,000 / $44,270
All details in the video:
Over
Bastian Keller has been operating independently in the Forex market since 2015 and has been a full-time trader in the crypto market since 2018. He actively shares this expertise on various social media platforms, especially on his YouTube channel “Bitbull Trading”, with more than 36,500 subscribers.
In addition to his YouTube channel, he has already built a community with more than 4,000 active members. This offers both beginners and experienced traders the opportunity to improve their skills to a professional level. The focus is on operating profitably in the market in the long term, regardless of your location.
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