GET DAILY SIGNALSBitcoin Drops on SEC' s Rejection of ETF-listing
Bitcoin enters its third day of decline, as the U.S. Securities and Exchange Commission (SEC) turns down an exchange-traded fund’s request to be listed.
Tyler and Cameron Winklevoss wanted to list their Bitcoin ETF on Cboe Global Markets Inc., but SEC is adamant that it is not convinced that the cryptocurrency is adequately monitored and therefore rejected the listing request. The news led to a dampening of Bitcoin optimism, with the digital coin’s price dropping below $8,000.
Had the SEC green-lighted the ETF’s listing, there could potentially have been a surge of institutional investments/mutual fund participation – and therefore increasing trading volume – in the cryptocurrency market.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BTC.X's Stochastic Oscillator remains in oversold zone for 3 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BTC.X's RSI Oscillator exited the oversold zone, 10 of 40 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 25%.
Following a +4.86% 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in 123 of 425 cases, the price rose further within the following month. The odds of a continued upward trend are 29%.
BTC.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 05, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on BTC.X as a result. In 41 of 144 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 28%.
BTC.X moved below its 50-day moving average on October 22, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BTC.X crossed bearishly below the 50-day moving average on October 25, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 6 of 22 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 27%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 29%.
The Aroon Indicator for BTC.X entered a downward trend on November 10, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Advertisement
Advertisement