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SEC Postpones Bitcoin ETF decision - Is Crypto Markets Over SoldThe prices of Bitcoin, Ethereum and all other major cryptocurrencies are sharply down Wendesday following an announcement by the U.S. Security and Exchange Commission (SEC) that they will delay the decision on approving the expected first-ever Bitcoin ETF. BTC/USD continuously following its' bearish trend, according to Bollinger Bands (BB), as long as the prices remain between the 20 days moving average (MA) the lower band. Bitcoin tries reaching close to its support at $6383 but bounce back as buyers interrupt. Relative Strength Index (RSI) is on 30, offering “over sold” market signal, we are currently still waiting for another signal from MACD of crossing the Signal one line. Once signal received, we might see Bitcoin prices going back towards $6718 (Resistance 1). The launch of a Bitcoin ETF would likely be a big boost for Bitcoin and other coins, as it would open the doors to institutional investors to invest in the crypto market.
BITFINEX:BTCUSDShort
by ReadBTC
Bitcoin Today: No ETF decision on August 10 Price Yesterday BTCUSD fell sharply, breaking the 6800 support on the way, after SEC statement on the prolongation of decision period for ETF applications. The price did stumble on 6600 support for a short time, but after a while broke below and now trading around the 6500 level. 6000 is a near-term target, by reaching it Bitcoin will erase all gains and positiveness from the July growth, which was provoked mostly by the speculations about ETF applications. For now, overall price pattern is bearish with a target on 6000. A breakthrough below 6000 will send the price to 2018 minimum at 5750. Nonetheless, 6000 level should have strong supportive value, as it is close to the 2018 min, so a bounce-off from this level is probable. To gain any positiveness we need to see the price moving above the 7000 level in nearest term. Today forecast Trading in the 6000 – 6800 zone. Latest news The SEC has extended the decision-making period for VanEck SolidX Bitcoin-ETF until September 30 SEC (US Securities and Exchange Commission) has extended the decision-making period for the application to List and Trade Shares of SolidX Bitcoin Shares Issued by the VanEck SolidX Bitcoin Trust. This is stated in a document published on Tuesday, August 7, on the Commission's website. Initially, it was assumed that the meeting of the Commission, at which officials will decide on changes in the rules of trade at the Chicago Stock Exchange (CBOE), where the fund should be traded, will be held on August 10. However, this date has now been postponed to September 30. The application of VanEck and SolidX was filed on June 6. If the application approved VanEck SolidX Bitcoin Trust will be immune from theft and loss of funds. It will also be tied to a new index from Van Eck, which instead of exchanges will collect the price of bitcoin from US-based over-the-counter (OTC) platforms. The price of VanEck SolidX Bitcoin Trust shares was set at $ 200,000, which means that the new ETF will be primarily targeted at institutional investors. Earlier, a source in the SEC, who wished to remain anonymous, made it clear that the agency was interested in approving this application. News almost immediately affected the course of bitcoin, which, having risen during the day's session above 7100, went down sharply, dropping below 6600 as on 8 August 8:30 UTC.
BITFINEX:BTCUSDShort
by DestinationMoonCrypto
30K, 50K & 70K PREDICTIONS FROM THE HEDGE FUND MANAGERS...Haven't you heard it? 'Certainly this year, q2.. q3 , before the year end, no doubt, etc...' We all wish for it, and it is possible, we know... But how does that look in reality... well... we gotta roll up those sleeves... and break some walls actually, or .. will Wallstreet do it for us? They will ! Question is... when ? And will they short first, still hidden between the retailers? Well, here's our deadline... great things to happen before old years eve then... August 16, ETF's decision of the SEC for a basket of coins listing or not, last chance to add some power in the game, after the 2 rejected proposals of the Winklevoss twins, as we made it already to 8.4K.. but don't we need a little bit more?
BITFINEX:BTCUSD
by Wolverinos
1
BNB good hedge while BTC and other Alts dump? Upon news of the BTC rejection of an ETF, BTC and other alts have plunged while BNB has been making higher lows/highs. The trend is still valid if BNB can stay above the yellow dotted line. Resistances can be seen around the two green lines up above. If BNB can stay above the yellow dotted line and grind higher, we can possibly see BNB break from BTC and move in the opposite direction as people find a better hedge against BTC whether that be BNB or Tether - this has held true in the past. If we definitively break the yellow dotted line, this C&H might then be invalid and it is time to re evaluate the position and take profit/losses. I will keep you updated as this plays out :D
Long
by thenotoriousbtc
BTC thoughts 15-06-18Retest at 6800, possible drop after as market still seems to be bearish. Potential failed sell off to 6200-5900 before bounce. Hopefully we have found, or are very close to finding, the bottom here and will have a bounce soon. Otherwise I feel we could be in for a bear market until September time, 2014 fractals hopefully playing out much faster. Once we see more USD, fiat pairings etc we could be in for a nice run. I would say now is a nice time to buy some Alts,but only those with strong fundamentals. I believe tokenized Securities are going to be big in the not so distant future so I would strongly recommend looking into these. If i was an accredited investor I would be investing into tZERO. I'm long term bullish on BTC and crypto in general.
BITFINEX:BTCUSD
by Cryptoes
Forgot about $ETC? Get ready for moon.I have a mid term target for $ETC @ 340k sat. Roughly 50% upside from here within the week. My message to my signals channel: TL;DR. I am holding $ETH in anticipation of the SEC meeting. Also holding an even amount of $ETC in satoshi value as a hedge. A number of #TeamNeverWorkAgain members have reached out to me about what to do with their spare $BTC. The other day we made a call stating we were moving roughly half of our portfolios to $BTC and it played out quite nicely. Yes, alts are red, and they look like attractive buys, but we don’t feel this is the bottom yet. Protecting your satoshis in $BTC is a great move as $BTC has been charging up with no indicators saying that it will stop. Feeling like you need to be in all alt coins is FOMO. We are just beginning alt season in my opinion and this is a healthy pullback. In this market, the impatient give their money to the patient. I’m holding off on almost all alt purchased until they look fully bottomed. That being said: I am holding a fair amount of $ETH. This is in anticipation of the SEC conference on Monday discussing whether or not $ETH will be deemed a security. Many of us have learned time and time again that putting all your eggs in one basket never ends well. It causes emotional thinking and often drives to panic selling. As a hedge to my bet on $ETH, I will be holding an even amount of satoshi value worth of $ETC. Why? One of the major factor in determining whether or not $ETH will be deemed a security is that $ETH raising capital from a public sale is one characteristic of a security. $ETC however did not raise funds through public sale. In my opinion, $ETH will fall in the short term if it is deemed a security, but will have an inverse reaction and appreciate in value from a fundamental standpoint that it is not a security and consequently will be more difficult to regulate than $ETH. Please do not be concerned though about $ETH in the long run. I believe both outcomes, $ETH being deemed a security or not, are bullish for crypto overall. If $ETH is classified as a security, institutions that have been on the sidelines will take this movement way more seriously and likely start to join us. If $ETH is not deemed a security, we will be closer to being officially considered an entirely new asset class which in my opinion will have the space going crazy! On top of all this, $ETC’s weekly chart looks so good that I am going to hold it for a few weeks time. Just look at that bowl baby! Please remember, you know what’s best to do with your own wealth. This is our opinion and should not be taken as financial advice. Yours truly, J
by TeamNeverWorkAgain
11
OSTK: Possible Support After SEC Probes Into ICOs3.2.18 The sec probes have added uncertainty to many bockchain companies with icos and this has negatively impacted stock prices. The fear in the market, however, is unfounded since the findings of these probes has yet to be released. the SEC's actions seem to be precautionary and are not specifically targeting bad actors. This means that retail investors may be able to buy ostk at a significant discount in the short term. The market seems to be going sideways, and makes swings for those having bought in around 60/share a bit uneasy. The market could head south out of fear and uncertainty. uncertainty with the sec probe and earning for last quarter. the earnings may be negatively impacted by the btc/bch debacle, which could have lost ostk quite a bit of money. A bounce off the 50 LEVEL is hopeful, but if this breaks then be looking for a return to the 40 mark. This is assuming no affirmatively bad news for the company. If there is a bounce up be looking for new resistance around the 56 level gap. None of this is trading advice and is only the opinion of a retail investor. You are responsible for your own market decisions.
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by JuvianJulianHernandez
1
BTC SOLD DISRUPTIVE TECH, NOT DISRUPTIVE INTEGRATIONWE ALL HEARD JAY CLAYTON OF THE SEC SAY THAT THERE ARE MANY DISRUPTIVE TECHNOLOGIES AND VERY FEW ACTUALLY MAKE IT. IS UNCLE SAM SANE TO MAKE THE OBVIOUS DECISION ON A MONEY LAUNDERING AND BLACK MARKET GROWING CRYPTO CURRENCY THAT PROMISES TO DISRUPT THE FINANCIAL SYSTEM. EVERYONE MEME'D THE PETRO DOLLAR, VENEZUELA BYPASSED SANCTIONS. DO YOU THINK ANY COUNTRY IS GOING TO HELP GROW A GLOBAL CURRENCY TO RELINQUISHES THEIR POWER TO ECONOMICALLY AND POLITICALLY SHAPE OTHER NATIONS THROUGH SANCTIONS. BITCOIN IS A BUBBLE, THE MOMENT COINBASE GAVE THE IRS USER INFORMATION. LOOK AT THE DOJI ON 11/29. MARKET WAS CLEARLY PROPPED UP #FOMO DECENTRALIZED AND OFF SHORE EXCHANGES ARE GOING TO TURN CRYPTOCURRENCY BACK TO THE DARK WEB THROUGH NON TAX COMPLIANCE. LEGALIZE DRUGS, CRIMINALIZE BITCOIN - TONE VAYS ICO'S GET REGISTERED WITH SECURITIES. ONLINE GAMBLING BILL GETS PASSED IN US TO STOP BTC DEPOSIT BONUSES. BITCOIN SOLD DISRUPTIVE TECHNOLOGY, NOT DISRUPTIVE INTEGRATION. BLOCKCHAIN WILL BE INTEGRATED. THE IRONY IS NOT WHO SELLS THE BOTTOM, BUT WHOM GETS LEFT BUYING THE TOP - BUBBLE PERSPECTIVE AS AN ESCALATING TECHNOLOGICAL SOCIETY WE ARE DECIDING ON THE ABUSE OF FREE WILL VS THE ABUSE OF COMPLETE CONTROL OF TECHNOLOGY. BETTER TO KNOW THE DEVIL, THAN THE ONE YOU DON'T ? #GAMETHEORY
BITFINEX:BTCUSDShort
by Natetoup
2
Why I think 170 is next heavy resistance and why it wont matterKinda the same as my last few charts, but with today's volume based primarily on SEC news, LTC price has a lot of good things going for it. Now, while this is a technical analysis, the reasons behind it are mostly fundamental. Resistance lines drawn at ~170$, based on downward channel. RSI is nowhere near overbought, and we're already blowing up toward 170. MACD daily shows a potential silver lining in bullish momentum. The Volume on the daily chart is what is absolutely necessary. Nothing but bear vol. all month. But today with the SEC news we are getting it, and if a break out occurs... oh man. Always cautious and never overconfident though. Now here's why I think we'll have no problem breaking out of this bearish channel soon. May not be today, could be tomorrow, could be next week. In the long run it doesn't matter, because it's going up eventually. The SEC news isn't "just news." It's an answer to many speculators who haven't bought into any cryptocurrencies yet, and to more who already have. The looming question that has brought DOZENS OF FUD CYCLES before (China, India, Korea... remember?...), "What happens if my cryptocurrencies get banned, and a selloff occurs?" Those cycles were in the last half of 2017 and beginning of 2018 only. My friends, I think this showed many people in crypto, old and new, that cryptos are not going anywhere soon.
COINBASE:LTCUSDLong
by jbutler7
BTCUSD: UpdateSideways action here...I'm waiting for fundamentals to evolve, the chart shows mixed signals that could develop into both a downtrend or an uptrend with equal chance...a bit leaning towards uptrend due to the long term chart, and also the poor follow through to the downside recently. Other than that, I don't yet have a good enough low risk setup here, so, I chose to wait in cash for now. Keep an eye out for the dates on chart. I can think of a few possibilities, a bullish scenario would be if suddenly the SEC approves the Winkledudes ETF, which could result in everyone forgetting about the China regulatory crackdown risks, and cause a massive short squeeze rally. A bearish scenario would be if we don't get any new positives, and China confirms eventually that they are banning everything, and we see an increase in oversight everywhere, with maybe the CTFC and the SEC making US investors' life hard. The timing for this to unfold will be slow and painful, probably, since China won't make any official remarks, or at least it is unlikely to do so, before 1 month after the end of the Communist party congress, which takes place during October. Let's wait and see... Cheers, Ivan Labrie.
BITFINEX:BTCUSD
by IvanLabrie
35
BTC WEEKLY CHART: "The Panic Zone" It's F'UglyThis has to be the ugliest chart I've seen in a very very long time. Where to begin... The top was put in when the US SEC ruled against allowing the Winklevoss twins to create a BTC backed ETF. They had spent the last 2 months accumulating asset to back the ETF and then dumped it all at once when it was obvious they should put their money somewhere else. That broke the steep solid red trend line I am calling the W.Voss trend. Price has dropped down to support at the second red dot trend I am calling the Chinese Insider trend. Price bounced off the trend and now all the helium has come out of the balloon and price has dropped back down creating a giant $120 sized "Dead Cat Candle". A DCC is a harbinger of doom to the Chinese Insider rally. The fundamental here is that the PBoC , China's SEC, has shackled mainland based BTC exchanges creating all sorts of problems for the Chinese investor to divest. On top of that, OKcoin is teetering on extinction. I would bet my valuable wooden nickle collection that the dotted red trend is kaputski. That leaves the 2 year rally as the only real long term support on the chart down around $850. So here's the real warning to y'all. The counter trend indicators are screaming SELL SELL SELL. The volume has been dropping for nearly 2 years. MACD is about to crossover to the dark side at its highest crossover point since the blow off top in early 2014. The Stochastic oscillator is showing that the current decline still has room to drop. It loosely predicts a decline to the feared PANIC ZONE. That implies a 2 year trend break and then a precipitous drop. Fundamentals: Bitfinex issued an announcement about a grand fork in the BTC hash chain. They and about 12 other exchanges differ with the major miners about how to proceed. Bitfinex leads the market in hedging their bets allowing speculation on the future of each fork. In the mean time investors are bailing into other cryptos. Etherium has taken off, up 300% or more along with several other winners. Not all the cryptos are winners. Litecoin continues to lose value. All of this indecision along with the government thugs have cast a huge dark cloud over all of us. Does this deter me? Not one bit. I'm looking to snatch up some cheap coin. I'm gonna wave my cowboy hat and ride this hydrogen bomb all the way to ground zero. YeeeeeHaaaaahhh.
BITFINEX:BTCUSDShort
by investigator
5
ETHXBT: Ethereum has a weekly uptrendThe target hasn't been hit yet, but we might end up hitting it, and stalling there for some time, as I had explained in the monthly chart I posted. If you're long, look into closing margin longs on target, or if you own more than 50% account, go back to BTC to maintain equal weights in your cash account (spot, no leverage). The support here is strong, so you can probably look into going long if this support zone holds. $BTCUSD is right against resistance, derived from the ETF decision news price action. It's a good idea to short with a stop at 1190+, or simply buying $ETHXBT alternatively (if you didn't yet). We closed our margin longs on the previous bar, and now reentered. With some luck, we won't go any lower before hitting the weekly 'Time at Mode' target. Good luck, Ivan Labrie.
Long
by IvanLabrie
11
BTCUSD: FuturologyThis is another very prophetic post, like my ETHBTC one. I think that we will get an approval by the SEC, but, since the ETF won't bring money into Bitcoin right away, price will fall back to weekly support at 1139 give or take. Bottoming there, while big players accumulate positions, until the market is ready to trend up vigorously again. The market is likely to frustrate the most people, so, I think first, it'll spook the short sellers by going up after the news, to then fall and stop out all longs, right before bottoming for some time. My game plan, I'm holding my positions for 1 year at least, so, I'll trade around them using margin. My preferred vehicle to hedge the BTC decline is ETHXBT longs. I'll be looking to accumulate a hefty ETHBTC long position, in the order of 30%, when we have a decent enough retracement in it. It's close to weekly support, and in a weekly uptrend, with potential for a monthly rally after May, which would align with this prediction taking place, if ETHEUR rallies or doesn't fall, while BTC falls or doesn't rally as much. Reccomendations: If conservative, sell down from 50% to 20% account long in BTCUSD and do nothing. Sell also down from 50% to 20% account in ETHEUR and do nothing. Then add back on dips or if they keep trending up proving you wrong. If more brave, follow my game plan. Don't sell but hedge the decline with ETHBTC longs when safe. Best of luck! Cheers, Ivan Labrie.
BITFINEX:BTCUSDLong
by IvanLabrie
8
Petrobras Brasileiro: Corruption undermines Fitch RatingI've flagged Brazil's state-owned mega-energy firm Petrobras Brasileiro ADR (NYSE: PBR) because the SEC is investigating the energy firm for money-laundering and corruption, thus skewing Fitch Ratings of PBR. Since PBR owns a Texan refinery, PBR it is accountable under US jurisdiction. PBR has been found in violation of the Foreign Corrupt Practices Act and "other laws". I highly suspect "other laws" may very well be The Racketeer Influenced and Corruption Organizations Act (RICO), taking into account PBR's "cartel" influence in the global energy sector. $PBR closed at $10.50 at the closing bell; -$.34 or -3.14%. Its price range was $11.51 at pre-market, opening around $11.15 then plummeting down to $10.41 during Wall Street's Witching Hour. What is more shocking is to learn that the Fitch Ratings just released at the same time; gave an upgrade on the series of notes to "BBB"; the "issuance of which are backed by the royalty flows owed by oil concessionaires, predominately, PBR, and Rio De Janeiro (RJS), of which 100% flows to RioPrevidencia (RP), the states pension fund." In part, the USD 1.1 billion series 2014-3 notes 'BBB', Outlook Stable and BRl 2.4 billion series 2014-2 special indebtedness interests notes affirmed at 'AAAsf(bra)', Outlook Stable. PBR's cartel is backing a capital investment program at USD 220 billion between 2014 and 2018. PBR is an asset to be used when the market performance is shaky. Its personality Currently the downside calculation of price per share: $.54.
NYSE:PBRShort
by Zentoro
1