The current range for bitcoin is 6400-6700. On the 26th the ETF decision will be announced, causing either a small flash crash that will consolidate around 6400, or if approved could start a massive bull run. We still have another ETF decision in Feb 19' (van eck) and the Bakkt exchange goes online in Nov 18', so any drop below the meme wedge of 6375 will be bought up keeping us in the current range we have been in for months. Thus, the downside risk is minimal with an obvious upside advantage to longs in this trade.
Commento:
update: ETF will be announced the 5th of nov