A no answer would result in an automatic approval.
In favour of the approval we have the current mess in SEC, that still has not designated a new head since TRUMP occupied the White House. Also a reducing , China regulations and a real demand of a investment vehicle to expose to potential bitcoin profits from institutional investors are points in favour of an approval.
Against the approval we have the still huge bitcoin , the technichal challenges to store bitcoins securely (see MTGOX and BFX as major reference for this challenges) and a potential hardfork and a weak plan to tackle it by the COIN proposal.
Then decission is probably already taken, but we wont know for sure until the news are out. I'm personally inclined for a rejection, but i wont biad my trading.
I see a clear channel since the "january dump", and once this channel is broken by catalyst news i'm ready to short/long either breakout. I'm looking for a 100-200 leg down as the very minimum if the gets rejected. Probably smaller leg up if it gets approved as it is partly already priced in.
I will each day adjust my trigger limits to the channel low and channel top .
I will get in as soon as the channel is broken, stop loss when prices goes 2% against my position. Targets really soft, i will monitor real time to be ready to close positions whenever necessary. I dont want to miss any potential profits if the news catalyst make bitcoin move even faster than my predictions.
Now it will be far more difficult to know when to long, so you have to keep you 100% up to date with the news.
The time limit is the 11th, but as it is saturday it is said it could be delayed to monday.
Now please bulls do not liquidate bears prior etf news. this price range is perfect for our setup.
Stepping out till real news.
This means a 2% loss, x3 margin, a 6% loss of my colateral.
I really overstimated etf importance. I should have closed when i had the oportunity to do it at profits.
But we all make loosers. That's why we use stops and never trade full account. We are still in the game with a small loss.
So if it is rejected, anytime near 11th march, if approved, by the end of office time in usa the 11th :D