No Change in view than what was previously mentioned
We have some major newsflow events coming up in Jan which would induce some volatility but the HTF trend is firmly bullish.
A lot of folks are trying to predict, not just the approval but also the market reaction to the approval, how much is priced in, sell-offs before and after the approval etc.
These are hard things to predict.
Time could be better spent on making a plan on how to react.
Firstly, if you are a LTF trader then you cannot go into this approval event window with your static opinions.
There will be a lot of newsflow (some fake some real) before the approval on Twitter etc which could cause wild movements on both sides. Those can be only played via technicals and price action.
We always like to focus on HTF.
In case of rejection (possibility but very low probability at this point), there would be a big market correction.
But IMO that would also be a very good opportunity to add to core holdings.
The rationale remains the same as mentioned in the previous updates
Currently, the fear in the market is what if there's an ETF rejection.
Sure it could happen. If that were to be the case there would be a knee-jerk reaction. But you gotta ask yourself how likely it is,
also If the rejection would be permanent? coz IMO the big boys who have filed for the ETF will submit the revised application and get it through eventually.
Crypto was born as an alternative to the existing financial system, and all of a sudden folks are making it look as if it cannot survive without an ETF.
ETF is just one among many catalysts. Bitcoin is up a million percent even without an ETF. There would be enough and more reason for it to go up.
The main thing to track here is macro and liquidity. Those are the primary factors that will determine how high it would go.
And both those conditions are favorable.
In case of an approval, it would be very bullish and we could get some sort of a climax upmove of this leg But as always it's best not to preempt some static levels. Instead, play it by ear as the data unfolds.
Things are looking good and bullish for now.
Model continues to be long Majors BTC ETH SOL.
There's some exits and new entries.
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