The U.S. Securities and Exchange Commission (SEC) is again raising a question regarding a proposed exchange-traded fund ( ) based on Bitcoin .
* BTC continues a slow downward movement towards the lower band of the wider consolidation range at $7,800.
* Though we laid eyes on a higher on the previous H4 candle, we don't see the Bulls to have enough power to initiate an upward momentum from the current price level.
* For the time being, we keep our latest forecast intact: our Short target is around $7,800.
* Indicators confirm the possible continuation of the downward move: is approaching oversold territory on H4, while has crossed 0 and turned negative.
Previous trade signal is active
Sell @ $8,300 - $8,400
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GOOD LUCK AND LOTS OF PROFITS !!
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