Bitcoin enthusiasts are eagerly awaiting the US Securities and Exchange Commission's (SEC) decision on the Ark 21Shares Bitcoin ETF, set for a crucial deadline on January 10, 2024.
Excitement is building as the SEC gears up to share insights on recent S-1 filing tweaks, raising hopes for potential approvals on Wednesday and Thursday.
Concurrently, expectations point to the US Manufacturing Purchasing Managers' Index (PMI) maintaining its position at 48.2 throughout December 2023.
According to Coingabbar Technical Analysis, 1. Bitcoin formed a base above the $41,500 support zone.
After trading sideways, The BTC price broke through previous highs.
Bitcoin's recent breakout from a four-week pennant pattern is notable.
BTC is gaining momentum, surpassing $44,000 and $44,500 resistance levels.
Recent rumors of spot ETF approval have fueled a fresh increase in Bitcoin price.
Bitcoin's price is up by over 7.70%, clearing the $45,000 resistance.
Positive signs are evident as Bitcoin maintains a closing price above the $45,000 resistance level.
The BTC price broke out of an ascending triangle, aiming for the next resistance at $47,600.
KEY LEVELS :
RESISTANCE LEVEL : $46,000-$46,600
SUPPORT LEVEL : $45,400-$44,800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.