Bitcoin Has Been Quietly Bullish Since $5700

[coin111s]

Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).

After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.

How likely is SEC to green-light an ETF, let me know your opinions.

https://i.imgur.com/HIf0iNE.jpg

[gold1112]

The longer we go with out a lower low is a good thing is what I’m getting at I guess.. and the lower high is only $7400, we can break that

[dohh]

Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).

After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.

How likely is SEC to green-light an ETF, let me know your opinions.

Your "argument" is bullshitish.

[BitCoinDream]

As of this date, Bitcoin's YoY return is 60%.

Verify @ https://www.coinbase.com/charts

[Sandus_Cryptolover]

Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).

After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.

How likely is SEC to green-light an ETF, let me know your opinions.

If for anything, I like the slow and steady movement of bitcoin at the current moment than a massive bull run or otherwise. Most investors aren't that bothered with the ETF and SEC situation at the moment, which I know we are not relying on it to.enjoy the benefits of Bitcoin.

[Olayinka225]

I think it might stay and be fluctuating within that price a little while, but after a while when it has overcome that then we should be expecting a very bearish market soon a good one I mean.

[solarsun]

it definitely has reached a bottom.  We have been steady bumping along this level for what feels like forever.  I believe they will pass the ETF which will spark the rally.  They brought it down here to accumulate tokens and coins.  They will raise back up to unload on the lambo boys.

[gabbie2010]

The support at $5700 is very strong analysis of the daily timeframe of btc/usd shows that the price has been having a bounce at the support at several occasions without a break through I hope that a final retouch could triggers a massive bullish runs although price volatility and momentum has not been massive from my point of observation.

[Getcoinsite]

it definitely has reached a bottom.  We have been steady bumping along this level for what feels like forever.  I believe they will pass the ETF which will spark the rally.  They brought it down here to accumulate tokens and coins.  They will raise back up to unload on the lambo boys.

We still waiting for bottom price dude there will be a huge dump before finding ways to bullish market (hopefully will happen this year) what i am seeing here is people are relying on ETF’s approval when the truth is market is sustainable and capable with or without ETF so let’s not look into that instead make our obligation to keep the market strong

And would you guys please stop waiting for that approval of ETF because were only being dependent when the truth is we’re re not.

[pooya87]

this would have been true if you were talking about something else other than bitcoin or if these numbers were significantly different. otherwise there is not much of a difference between: $5754 and $5877 and even $6000. but maybe not $6118.
the reason is that the market is still small, a large dump, a wave of panic sell,... can easily push the price lower than reality. for example if price were exactly $6000 right now 1 person could push it down to $5800 so there needs to be a bigger room when talking about these types of price at the critical support or resistances. and $200 difference or 3% is negligible. 

[Juggy777]

Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).

After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.

How likely is SEC to green-light an ETF, let me know your opinions.

If I recollect correctly Bitcoins touched 7k in this period, bitcoins etf is just one of the news that's effecting the prices currently. The major factors are panic selling, fud in the market and lower sentiments however I'm sure all this will improve in months to come. Now as far Sec is concerned 3 out of 5 members are in favour of Bitcoins Etf, however they have clarified there is no fixed date when when it'll be approved, so we'll have to be patient.

[dothebeats]

Unfortunately, that's what not most people look at. Most people in the bitcoin community nowadays look for the higher highs than the higher lows. Personally, I think a higher baseline on things is what actually makes every push possible and changes the overall sentiment of the market. If we continuously break the lows of every period, we are actually heading towards disaster since the price can't hold itself every time it dips. For the ETFs, since Trump expressed his 'approval' on the matter, it might or might not help ETF presenters gain the votes they needed but nevertheless, it's still a good try.

[Kemarit]

Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).

Well, there's some popular belief that bitcoin will go hover above $6000 because some theory suggest that its the "reasonable" price or the average cost of mining in 2018. So in order for miners to get their incentives, price shouldn't go below $6000. We have seen the price below $6000 defended several times, so its unlikely to go down.

Its only a theory though and I'm not saying its true.

After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.

How likely is SEC to green-light an ETF, let me know your opinions.

ETF or not, bitcoin will thrive in the market, This SEC news has made a lot of players, nervous, but whales and day trader takes advantage and going to milk this whole Bitcoin ETF approval/denial to the last drop.

[kzozenberg]

If the SEC gives the ETF the go-ahead, of course we'll see good growth, but even if it's not approved, bitcoin will be able to recover ! I think that bitcoin all the mountains on the shoulder, he did not stop at anything.

[carlisle1]

Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).

After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.

How likely is SEC to green-light an ETF, let me know your opinions.

But still not enough to bring us good profit,so its useless bullish anyways

I am not into that ETF acceptance because my stand is cryptocurrency will progress even if we dont have SECs approval

But yes ot may greenlight the market but yet its making the whole community divided from bitcoin and altcoin supporters

[Gozie51]

I see a strong resistance between $6,300 and because of the steady and slow movement, price have been around there for a week. This will not be easy to be broken and if that happens, I should think that the bullish have been confirmed.

[bobo012]

I dont think that sec will endorse ETF now in september. It will definetely come one day, but that day is long infront of us. We dont need etf as bitcoin was not created to comply with legacy system.

[bitcoindusts]

First off, i think a bullish season could never be quiet. It's impossible for the general community not to notice should bitcoin be bullish. It will surely create noise.

Secondly, regarding the most awaited ETF by many, it's not that Bitcoin won't gain its momentum without it but it will surely help boost the market in a shorter period of time since an approved bitcoin etf will signal more trust and confidence among investors.

Third, yes, we will soon see an US SEC approved bitcoin etf. They already acknowledge bitcoin's value but is just concerned on security and the possibility of price manipulation. Should any Bitcoin ETF proposals tackle this major concern of SEC, then a Bitcoin ETF will definitely be approved.

[BitcoinNewbie15]

I see a strong resistance between $6,300 and because of the steady and slow movement, price have been around there for a week. This will not be easy to be broken and if that happens, I should think that the bullish have been confirmed.

There is a strong resistance at $6000 in general. The price have bounced off of that range 5 or 6 times now over this last year. There is a ton of buy support at these levels. I think it's safe to say that the bottom has been found, as there would be no reason for the price to keep drifting further downwards. The price has already corrected 70% - 80% from it's 2017 high, and this is usually how big the Bitcoin corrections are after a bubble. We should be at the bottome right now, and as long as we don't break the support, I think it's safe to say we will be in a bull market very soon.

[Omegasun]

I see a strong resistance between $6,300 and because of the steady and slow movement, price have been around there for a week. This will not be easy to be broken and if that happens, I should think that the bullish have been confirmed.

There is a strong resistance at $6000 in general. The price have bounced off of that range 5 or 6 times now over this last year. There is a ton of buy support at these levels. I think it's safe to say that the bottom has been found, as there would be no reason for the price to keep drifting further downwards. The price has already corrected 70% - 80% from it's 2017 high, and this is usually how big the Bitcoin corrections are after a bubble. We should be at the bottome right now, and as long as we don't break the support, I think it's safe to say we will be in a bull market very soon.

Bitcoin price seems to be in a close constant amount since we will never know what news or FUD will come out that can help the market to recover or to gain much value at this time being.