What is your opinion on BlackRock's BTC spot ETF?
I have a mixed views: both positive and negative.
Case A: As you can see in chart, BTC is right below a resistance trendline. If break-out happens here, I would be happy although I'm still waiting for a last dips to fill my bags.
Case B: However, if we take a look at the consolidation between 2018-2020, we may expect that BTC needs more trials to break the current resistance (at the 5th point). Because there's still a long way to go, I'll prepare for a worst case which may come as in chart.
In short, I'll keep a close eye on these two scenarios.
I have a mixed views: both positive and negative.
Case A: As you can see in chart, BTC is right below a resistance trendline. If break-out happens here, I would be happy although I'm still waiting for a last dips to fill my bags.
Case B: However, if we take a look at the consolidation between 2018-2020, we may expect that BTC needs more trials to break the current resistance (at the 5th point). Because there's still a long way to go, I'll prepare for a worst case which may come as in chart.
In short, I'll keep a close eye on these two scenarios.
