ETF week. Gambling Territory for BTC. Technicals do not apply.
This coming week, forget about technical analysis. BTC´s price at the end of the week (or next Monday) will not depend on any indicators. These past couple of weeks we´ve heard chances of ETF approval range between 18% and 30% depending on where you get your news from. The site ETF News Daily said yesterday that the chance was 50%.
Regardless, the decision to buy/sell or do arbitrage this week should be far from what hard numbers have to say. Unless you have insider info, how you play this week is 100% a gamble.
Given that actionable and available data is zero, then we can technically set a 50-50 chance of the ETF getting approved (either it does or it doesn´t. It´s binary). So plan accordingly and make sure you set your Stops in case the ETF is not approved and limits in case you are longing in order not to miss the train. The only ones probably not worrying too much about what could happen are long TF hodlers.
Regardless, the decision to buy/sell or do arbitrage this week should be far from what hard numbers have to say. Unless you have insider info, how you play this week is 100% a gamble.
Given that actionable and available data is zero, then we can technically set a 50-50 chance of the ETF getting approved (either it does or it doesn´t. It´s binary). So plan accordingly and make sure you set your Stops in case the ETF is not approved and limits in case you are longing in order not to miss the train. The only ones probably not worrying too much about what could happen are long TF hodlers.