What next for Bitcoin after potential ETF approval by US SEC

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Insignia Consultants

                                                                                   New Delhi

Monday, October 18, 2021 TIME 2:46 PM IST                       

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What next for Bitcoin after potential ETF approval by US SEC

BTC/USD: (current price: $61933.10): Support: $51727, $55501 and $58514.50 Resistance: $64540.50, $71327.50 and $78523.50

14 Day View: Bitcon or btc/usd can rise to $67533.50 and $81127.40 as long as it trades over $58514.50. (a) Bearish trend will be there only if $64540 is not broken this week.

30 Day View: Bitcon or btc/usd can rise to $78523.30 and $8749.40 as long as it trades over $55501.50. (a) Bearish trend will be there only if $71327.50 is not broken in the next thirty days.

100 day view: Bitcoin has to break and trade over $71327.50 to rise to $95518.50 and $116524.90. (a) Rise is subject to trading over $71327.50. However failure to break and trade over $71327.50 in the next one hundred days will result in a crash to 44532.00 and more.

Bitcoin and crypto currencies are also affect by swings in global stock markets. A crash in global stock markets (if any) will results in a crash or plunge. Regulatory risk always remain in bitcoin.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Prepared by Chintan Karnani Website www.insigniaconsultants.in   

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.

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