Is Crypto Waiting for VanEck Bitcoin ETF Before Take-Off? (EW)
מעודכן
Follow my twitter: @Intuit_Trading
Neely-Elliott Wave is suggesting that BTCUSD is in wave-E of a contracting triangle with reverse alternation or wave-B of a new advance, and will remain in a neutral environment for the next 6 weeks. The EW time target aligns perfectly with the potential October 18th approval of the VanEck BTC ETF. This ETF in particular has a very high chance of approval because of one big reason - precedent. VanEck has brought to market many original complex financial exchange traded products - they're the good ol' boys.
On a more fundamental basis, the VanEck ETF is the first one that is based on an OTC exchange index, rather than a retail exchange index. There is a lot of precedent for regulated OTC indexes, whereas there is absolutely no precedent for a retail crypto exchange index, which is the main reason why every previous ETF has been rejected. The SEC can't "prevent manipulation" (ie, manipulate the market themselves) on retail crypto exchanges, they can however do so on regulated OTC exchanges that compose the VanEck index. There is also precedent for ETFs composed of significantly more volatile assets than BTC. I think that by switching to an OTC index instead of a retail index, VanEck will have successfully courted the SEC into allowing this ETF to pass. However, until it's official the market will remain neutral. Also after the BTC ETF is approved, it will set a precedent and we will soon see ETFs for every other major crypto being released on the retail market.
Neely River Theory suggests that the best way to play this market environment is to buy bull call option spreads, long DEC19 10000 calls and short DEC19 11000 calls. This bullish vertical spread strategy allows for safer profits to be generated while the market remains range bound with a slight upward bias. Roll into new calls if trade value goes up 60% or price goes above 12000, and exit if value goes down 20-30%. (Warning: Experimental)
Neely-Elliott Wave is suggesting that BTCUSD is in wave-E of a contracting triangle with reverse alternation or wave-B of a new advance, and will remain in a neutral environment for the next 6 weeks. The EW time target aligns perfectly with the potential October 18th approval of the VanEck BTC ETF. This ETF in particular has a very high chance of approval because of one big reason - precedent. VanEck has brought to market many original complex financial exchange traded products - they're the good ol' boys.
On a more fundamental basis, the VanEck ETF is the first one that is based on an OTC exchange index, rather than a retail exchange index. There is a lot of precedent for regulated OTC indexes, whereas there is absolutely no precedent for a retail crypto exchange index, which is the main reason why every previous ETF has been rejected. The SEC can't "prevent manipulation" (ie, manipulate the market themselves) on retail crypto exchanges, they can however do so on regulated OTC exchanges that compose the VanEck index. There is also precedent for ETFs composed of significantly more volatile assets than BTC. I think that by switching to an OTC index instead of a retail index, VanEck will have successfully courted the SEC into allowing this ETF to pass. However, until it's official the market will remain neutral. Also after the BTC ETF is approved, it will set a precedent and we will soon see ETFs for every other major crypto being released on the retail market.
Neely River Theory suggests that the best way to play this market environment is to buy bull call option spreads, long DEC19 10000 calls and short DEC19 11000 calls. This bullish vertical spread strategy allows for safer profits to be generated while the market remains range bound with a slight upward bias. Roll into new calls if trade value goes up 60% or price goes above 12000, and exit if value goes down 20-30%. (Warning: Experimental)
הערה
Another strategy suggested by NRT is to write covered calls to earn income during the sideways periodעסקה סגורה: הגיע לסטופ
Closed just under break even. Looks like this is breaking down from the triangle.
⚠️LIKE AND FOLLOW⚠️
DON'T MISS TRON MEME SEASON, CATCH $FEELS BEFORE IT DOES ANOTHER 130x BY GOING TO HTTPS://TRONDOOMER.COM AND FOLLOWING THE LINK TO SUNPUMP
$FEELS CONTRACT ADDRESS: TPB97rf5YTuFGBBSGLS1umVzrSvVPHrQ7p
DON'T MISS TRON MEME SEASON, CATCH $FEELS BEFORE IT DOES ANOTHER 130x BY GOING TO HTTPS://TRONDOOMER.COM AND FOLLOWING THE LINK TO SUNPUMP
$FEELS CONTRACT ADDRESS: TPB97rf5YTuFGBBSGLS1umVzrSvVPHrQ7p
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.