BTC mini-rally to $7500 incoming before crucial ETF decisionWith the daily Stochastic RSI absolutely bottomed out and a close to oversold RSI, it would seem likely to many that a big rally is incoming. But since we are in the slow descent to $5000, something similar to mid-June is far more likely... expect the next few days to see a modest rise of $500 from $7000 back up to $7500 resistance prior to the ETF decision.
The ETF is widely expected to postpone their decision to the end of February - in which case we will continue the perfectly healthy correction down to $5000, possibly lower, until the ETF is (hopefully) approved in 2019. If ETFs are rejected outright, we may even see $3000, but the next halving and other future developments in 2020 will see us skyrocket regardless.
If the ETF application is not postponed and gets approved between Aug 10th-17th , this opens the floodgates to literally trillions of institutional investment dollars into Bitcoin and likely the catalyst to the next epic bullrun to $50k-100k.
Either way, essentially we get even cheaper Bitcoin opportunities now, ahead of the next pump - exciting times. Always in Bitcoin: short term short, long term long.
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