BITCOIN (BTCUSD) – Week 12 – A brief pause towards the top
Anthony Scaramucci, the founder of SkyBridge Capital, has dropped a bombshell on Twitter, claiming that Elon Musk's aerospace company SpaceX now has Bitcoin on its balance sheet. We can only guess why SpaceX purchased Bitcoin because it isn't a public corporation and therefore it wouldn't have to disclose its acquisition to the US Stock and Exchange Commission.
Brazil's regulators have authorized the first Latin American Bitcoin ETF, called QBTC11, according to QR Capital, the firm behind it. Since QBTC11 is approved by the CVM, QR Capital believes that its acceptance will hasten the introduction of a similar product in the United States. Also, on its one-month anniversary, Purpose Investments Inc. revealed that their Bitcoin ETF had reached $1 billion in funds under management.
Last week we forecasted a move to the upside and its probability of a correction to reach the blue trendline before reversing and both scenarios played out. Now we see a consolidation happening, with the higher probability move being to the upside, reaching and potentially breaking the resistance created last Saturday at $61,5k.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Brazil's regulators have authorized the first Latin American Bitcoin ETF, called QBTC11, according to QR Capital, the firm behind it. Since QBTC11 is approved by the CVM, QR Capital believes that its acceptance will hasten the introduction of a similar product in the United States. Also, on its one-month anniversary, Purpose Investments Inc. revealed that their Bitcoin ETF had reached $1 billion in funds under management.
Last week we forecasted a move to the upside and its probability of a correction to reach the blue trendline before reversing and both scenarios played out. Now we see a consolidation happening, with the higher probability move being to the upside, reaching and potentially breaking the resistance created last Saturday at $61,5k.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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