Outlook for Bitcoin ETF approval reduced by bitwise found
- Bitcoin Price Stable, But Under Pressure
- Bitwise research concludes that 95 percent of the exchange volumes fake
- Transaction volumes are shrinking after March 21
It is a successor of harmful news. Days after the SEC revealed public access to Bitcoin ETF approval; Bit by bit report confirms what Jay Clayton is not comfortable with: The Exchange's manipulation. Nevertheless, the Bitcoin volumes are flat, while prices are consolidated by March 21.
Bitcoin Price Analysis
Fundamentals
Bitwise Asset Management, a private company behind the first Crypto Index Index Fund, Bitwise 10 Private Index Fund, has a dusting on cryptocurrency trading and exchanges in particular. With interests and in the process of applying for a Bitcoin ETF, the firm undertook thorough research on the stock exchange order book, using the "first order book data analysis from all 81[ads1] exchanges reporting more than $ 1 million in BTC volume on CMC." 19659008] Their conclusion found that "95 percent of the volumes are fake." By concentrating their efforts on CoinMarketCap, the leading crypto curve race is tracker, plagued by demands for gentleness and lacking in canceling exchanges accused of laundry and other forms of manipulation , diligent research teams found that volume inflation was fierce in "loosely regulated and unregulated exchanges."
They continued to say that the actual trading volume is around $ 270 million and not even close to $ 6 billion that is relayed by coin spurs. There is this inflation and direct data manipulation that SEC President Jay Clayton says "is uncomfortable with" everything because "some thefts around digital assets that make you tear your head."
Now that SEC post-appeal comments have been made public and not many judgments from what the Commission received from the public – are fond of a Bitcoin ETF. A worried citizen, D. Barnwell, informed the SEC to adopt a "much longer time horizon for taking a" watch-and-wait approach. ""
Candlestick Arrangement
Although Bitcoin (BTC) prices are stable in the last day, it should be a concern that the bulls are not running prices above $ 4,500. Note that $ 4,500 not only doubles as our immediate resistance line. There are also $ 200 away from February 24 highs, our anchorage.
Our trading plan is in any case valid, and from our technical arrangement all low offers should be an opportunity to buy. But if the prices go below $ 3,900 and the bundled line is wide, then we can see a meltdown against $ 3,500.
Technical indicators
Our reference line in the next few days is 16-13kg against 7k. Because we have a double bear bear reversal pattern after March 21 liquidations-11k against 7k, any confirmation of the bear must be with high volumes over 15k. At the back, the $ 4500 bullet proof must meet the same trading terms.
Card with Trading View Law
