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bitcoin price is up 2% in the last 24 hours and is selling for $bitcoin/” target=”_blank” rel=”noopener”>37,339 at 4:50 a.m. EST, when trading volume increased by 38%.
btc received a boost from positive conversations after Cathie Wood’s Ark Invest unveiled its third btc exchange-traded fund (ETF) amendment.
Cathie Wood’s Ark and 21Shares just became the first major applicants in the US spot bitcoin ETF race to include a fee in their planned offering. https://t.co/Ab9zahWUL5
– Bloomberg crypto (@crypto) crypto/status/1726663122805469460?ref_src=twsrc%5Etfw”>November 20, 2023
James Seyffart, ETF specialist at Bloomberg Intelligence, said such modifications suggest Ark is preparing for possible SEC approval.
With this series of amendments, Cathie Wood’s Ark and 21Shares became the first major applicants in the US bitcoin spot ETF race to include a fee in their planned offering.
bitcoin Price Forecast as btc Holds Above $36,788 Critical Support
bitcoin price remains above the $37,400 range with a broader bullish outlook from a general perspective. However, a closer look shows that the king of cryptocurrencies could be preparing for a correction, with technical indicators supporting this thesis.
The Relative Strength Index remains broadly stable to show that buying pressure has eased. The histogram bars of the Awesome Oscillator (AO) indicators are also red, suggesting that the bears are steadily gaining ground. With the volume of these bars getting closer to the midline each day, the bears could soon take control.
Unless bullish momentum increases, bitcoin price could lose the critical support provided by the median threshold of $36,788. Further south, it could break out of the supply zone by shifting the lower boundary of this order block from support to resistance.
This could expose bitcoin price to a cliff, showing it below the support offered by the ascending trend line to test the $35,410 support. If this level of buyer congestion does not hold, the price could spiral down to test the psychological level of $34,000. This could cause btc to collect the buy-side liquidity residing below.
In the worst case, the price could enter the supply zone. This order block failed to hold as resistance and turned into a bullish switch, extending from $30,126 to $31,524. A decisive slide and a close below the midline of this order block at $30,824 would confirm the continuation of the downtrend. This could potentially cause btc to revisit the psychological level of $30,000.
Reverse case
On the other hand, further buying pressure could see bitcoin price extend northwards above current prices, with a breakout and close above $37,972, confirming the continuation of the northward trend.
Meanwhile, investors signaled that a spot ETF could be launched soon. In this sense, they take advantage of the first-mover advantage, rushing to buy BTCETF in the pre-sale. The project is thriving as investors lead the ETF hype, with more than $1.25 million in pre-sale sales. According to analysts, it could increase 10-fold at launch.
Promising alternative to bitcoin
BTCETF is one of the most promising alternatives to bitcoin as it rewards holders when bitcoin ETFs are approved.
The imminent arrival of bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETFs signal a transformation in the crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto and #Stock Exchange realms, offering easier entry into digital assets for traders around the world.
Promoted by industry giants like @BlackRockthe prospects of #BitcoinETF It looks incredibly bright! pic.twitter.com/aIdBamyXrA
– BTCETF_Token (@BTCETF_Token) November 19, 2023
BTCETF is the token that powers the bitcoin ETF token ecosystem, a project that advances timely ETF approvals. Now is the time to join the community, which represents a proactive step towards the launch of this important product. Embrace this next evolution poised to deliver unique benefits to your community.
Spotting the way forward!
He #BitcoinETF #Symbolic stands out, representing a proactive step towards the future bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF.
Created in ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum, $BTCETF anticipates and embraces this next evolution, providing unique advantages to its community. pic.twitter.com/BIX2CjRAKf
– BTCETF_Token (@BTCETF_Token) November 20, 2023
BTCETF, which is among the top five initial coin offerings (ICOs) to buy in 2023, is selling for just $0.0056 at current stage 4.
#BitcoinETF Stage 4 is now available! pic.twitter.com/zboknJXHsw
– BTCETF_Token (@BTCETF_Token) November 20, 2023
This price will only hold for three days, so now is the time to buy BTCETF at early entry rates.
Visit the bitcoin ETF website to buy BTCETF in the pre-sale here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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