Corona virus summary:
A new Bitcoin ETF proposal filed by New York-based asset management company WisdomTree Investments is getting cold reception on Wall Street, according to a recent Bloomberg report. The main sticking point is that it actually offers exposure to Bitcoin futures instead of the physical asset. According to Steven Dunn of Aberdeen Standard Investments, this might not sit well with investors who might not even understand what they are getting.
Technical analysis:
BTC has been trading sideways at the price of $9,400. I still see potential for the downside movement due to rejection of the resistance in the background at $9,600.
Watch for selling opportuntiies due to rejection of the resistance with the targets at $8,888 and $8,735
