This post ETF day has been really fascinating!

So I’ve been, waiting like all of you, for the outcome of the ETF approval situation for months now and I really thought that this was going to give way to some really big, short term volatility in the markets for BTC and ETH. As it turns out, it’s been much milder than I would have ever thought. I’m pretty impressed by how much this was actually priced in and how accurately.

Once the ETF issuers begin to buy to cover amounts over their initial guesses of volume, we will see how far off the markets are and in what direction. This has been a really interesting thing to watch, though.

What is the most interesting is that, from a technical perspective, there are certain price ranges that are strong resistance areas to upward and downward movement. The ETF approval was expected by some prognosticators to “break the rules” of these support and resistance areas, yet at least so far, they have not. What that means is that, at least for the moment, this time is no different that any other transition into a bull market from the bears of yester year. It appears that technical analysis works pretty well, at least in certain markets. I had my doubts and still may be proved wrong, but it’s fascinating nonetheless.