Are Crypto Markets Over Sold



SEC Postpones Bitcoin ETF decision – Is Crypto Markets Over Sold by ReadBTC on TradingView.com

SEC Postpones Bitcoin ETF decision – Is Crypto Markets Over Sold

The prices of Bitcoin -3.23% , Ethereum -2.86% and all other major cryptocurrencies are sharply down Wendesday following an announcement by the U.S. Security and Exchange Commission (SEC) that they will delay the decision on approving the expected first-ever Bitcoin -3.23% ETF .

BTC/USD continuously following its’ bearish trend , according to Bollinger Bands (BB), as long as the prices remain between the 20 days moving average (MA) the lower band.

Bitcoin -3.23% tries reaching close to its support at $6383 but bounce back as buyers interrupt.

Relative Strength Index ( RSI ) is on 30, offering “over sold” market signal, we are currently still waiting for another signal from MACD of crossing the Signal one line. Once signal received, we might seeBitcoin -3.23% prices going back towards $6718 (Resistance 1).

The launch of a Bitcoin -3.23% ETF would likely be a big boost for Bitcoin -3.23% and other coins, as it would open the doors to institutional investors to invest in the crypto market.