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Bitcoin: Will BlackRock’s ETF Spark Another “Sell the News” Crash?

Bitcoin: DON'T be FOLLED by BlackRock ETF!
Bitcoin: DON'T be FOLLED by BlackRock ETF!

Bitcoin’s history is littered with bull traps, where excitement surrounding major events like futures launches and ETFs has fueled short-lived price surges, only to be followed by brutal downturns. Will the highly anticipated BlackRock Bitcoin Spot ETF in 2024 be any different?

Recurring Pattern of Hype and Pain:

History Repeating Again?

The potential approval of a BlackRock Bitcoin Spot ETF in 2024 has rekindled the “buy the rumor, sell the news” narrative. While initial excitement may push prices higher, a post-approval sell-off seems plausible.

Technical Analysis Hints at Support Levels:

Key Fibonacci retracement zones at 50%, 61.8%, 70.2%, and 78.6% could offer potential support during a pullback. Historically, the 70.2% level has acted as both resistance and support, making it a crucial area to watch.

Predicting the Bitcoin Rollercoaster:

A Disclaimer and a Question:

Beyond the Bitcoin Rollercoaster:

Dive deeper into financial preparedness with our video on the Top 10 Most Friendly Banks for Asset Liquidation in 2024.

Always remember, this information is for educational purposes only and does not constitute financial advice. Conduct your own research and consult with qualified professionals before making any investment decisions.

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