#BTC Greetings, everyone. Matrixport led us on a rollercoaster with FUD, claiming a spot ETF rejection. However, it turned out to be mere FUD, causing BTC to test $45,890 and witness sell pressure down to $40,750 on the spot chart and $40,333 on the future chart, marking a significant drop of 5,000 to 5,500 points.
BTC made a robust 3,000-point bounce. Now, observing the 4H time frame, trading above the 200 moving average is a positive sign. Holding at $42,700 could lead to the following targets:
- Buying Points: $42,700, $42,200, $41,500, $40,500
- TP1: $43,800
- TP2: $45,300 or $45,750
- TP3: $48,600
If BTC secures approval for spot ETF before January 10, with a strong buying volume, it might break $48,600 and test $52,300 or even reach $69,000.
In case BTC doesn't hold at $42,700 or $40,000 potential support zones are:
1. Strong Support Zone 1: CME Gap $40,500 to $39,300
2. Strong Support Zone 2: $36,300 or $35,655
3. Strong Support Zone 3: $34,000
Chances of ETF rejection are 1%, spot ETF delay 20-30%,