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Bitcoin Price Action: Much ado about nothing by scaredycatguide

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· @scaredycatguide ·
$8.88
Bitcoin Price Action: Much ado about nothing
Well, the onw day excitement was just that....one day.  Bitcoin got a pump on the appeals news on the SEC ruling in regard to grayscales etf application.  

That was over a week ago.....and price is back languishing around 25K.

#### That isn't necessarily bad news though.....

 https://i.imgur.com/qamEBfh.png 

Looking at the daily chart above we see that the 25K area support has becomes somewhat of a concrete floor.  Not totally impenetrable, but looks like it will take some work to crack.  

Otherwise, there really isn't much to talk about.  Bitcoin either rallies off this level or eventually breaks down.  Pretty boring and straight forward.

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@shortsegments ·
I saw that pump and thought like you, it wasn't going to last, because the SEC has all the power. The SEC can continue to delay. We will see if the latest efforts of the Grayscale lawyers letter to the SEC will work.
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