Bitcoin ETF excitement returns as BTC price nears $37K

Alter reasoned that the low-timeframe uptrend was “still undamaged” thanks to a succession of higher short on the 15-minute chart, in addition to healthy relative strength index (RSI) values.This article does not contain financial investment suggestions or recommendations. Every investment and trading move involves threat, and readers must perform their own research study when making a choice.

Bitcoin (BTC) neared $37,000 on Nov. 9 as a fresh BTC rate surge appeared to take traders by surprise.BTC/ USD 1-hour chart.” Zooming out, this is the most bullish U.S. has been on Bitcoin given that early 2022. Source: GlassnodeOthers hypothesized that the restored bullish tone might be tied to a possible U.S. Bitcoin spot rate exchange-traded fund (ETF) approval.While not anticipated up until 2024, Nov. 9 marks the start of the period during which the long-awaited announcement from regulators could in theory come.

Popular trader Skew, who formerly cautioned over liquidity variations, on the other hand likened BTC cost action to late January– the point at which Bitcoins start-of-year bull run began to fade.$ BTC sweep of $36K & & not so excellent 4H candle here zoom out to day-to-day & & this structure is beginning look a lot like late january– Skew Δ (@ 52kskew) November 8, 2023

Bitcoin (BTC) neared $37,000 on Nov. 9 as a fresh BTC rate rise appeared to take traders by surprise.BTC/ USD 1-hour chart.” Zooming out, this is the most bullish U.S. has been on Bitcoin since early 2022. Source: GlassnodeOthers speculated that the restored bullish tone might be connected to a prospective U.S. Bitcoin spot price exchange-traded fund (ETF) approval.While not expected till 2024, Nov. 9 marks the start of the period throughout which the long-awaited statement from regulators might theoretically come.