#BTC #ETF very important update
miss at your own risk.
#BTC ETF,
Hold your horses. Answer me a few questions?
Lets assume, ETF will approve today. Then what is next? because No coin, stock or commodity remained in uptrend for years without testing strong weekly supports i.e 20 weekly MA.
Why such a big investors, like blackrock, veneyk, ark, bitwise, wisdom tree, fidelity, and all other are buying just a few million dollars of BTC in their first buying? at what price they are planning to make their next investments? Why they won't DCA?
Of course, for the trillions of dollars asset managers, they want to get the first exposure with a very small amount.
Most likey, they will pump it first and will keep the market up for a few days or weeks. Then, they will shake out all the week hands and will dump the market into $30K zone or even below, who knows. here they will make big investments.
According to the cycle theory, there are almost 600 days in next ATH for #BTC . What's the next munjan i.e "Narrative" that will keep the prices of BTC in uptrend?
I am still in the wait n watch moment, I won't fomo. If I feel I missed I will wait untill BTC tests 20 weekly MA. most probably that is going to happen in a next 4-10 weeks. and untill march-april 2024, the 20 Weekly MA Will not go above 46K.
Conclusion: When I can buy at the same price of today cutting all the risk that I see now if ETF rejected or sell the news type thing. the market will straight go to $30 thousand zone. that's where.
Not a financial advise,.do your own research.
