What will be your trading strategy on the Eve of Bitcoin ETF Approval

BTC surpasses $47,000 following 21 months of Bitcoin ETF expectation.

• Bitcoin exceeded $47,000 on Monday, marking its highest point since April 2022.

• The surge is attributed to increasing anticipation surrounding the potential approval of an Bitcoin Exchange-Traded Fund (ETF) in the United States.

• The United States Securities and Exchange Commission (SEC) is scheduled to reveal its decision on Wednesday, sparking considerable speculation about the potential impact on Bitcoin's future value.

• The market is abuzz with discussions about how the SEC's announcement could shape the trajectory of Bitcoin's value in the coming days.

What will happen if BTC ETF get approval

What will happen if BTC ETF get rejected

Buy On Dip Strategy:

• After the effect of the News, a potential buying opportunity may arise.

• The favorable buying zone is expected to be within the $36,000-$38,000 range, in line with FIBO levels.

• This zone is deemed optimal for purchasing, particularly considering the upcoming Bitcoin Halving event in April.

• The buying opportunity is also influenced by a reassessment of the SEC's stance on the Spot ETF approval process.