2018-7-26 01:43 |
The SEC has decided to postpone making a decision on the Direxion Bitcoin ETF application until September.
BTC/USD Bitcoin broke out and closed above the downtrend line of the descending triangle on July 23.
The very next day, it surpassed $7,750 and reached the $8,500 mark as projected in our previous analysis.
Considering the sharp rally from the lows, we anticipate the BTC/USD pair to face a stiff resistance around the $8,500 mark.
If the bulls provide support at the trendline or at $7,750, we are likely to witness another attempt to break out of $8,566.4.