Bitstamp tested $1298 some hours ago. Interestingly for some reason, it's higher than the Bitfinex peak at $1294 (bitfinex always has the higher price for some reason)
In any case, looks like we will test the barrier again, we'll see what happens.
if ETF will receive a negative response probably we can see again a value below 1000$, and I don't get surprised if price start to climb some days before SEC reply.
I hope a bad news doesn't lead to a large dump... it means we can forget another pump for at least a couple of years.
Yobit have touched $1300 price mark in trading and then selling pressure lowered it,, Even if ETF is not gets approved i dont think that their will be large dump as mostly everyone knows about the second chance of ETF approval so even if their is dump it wont break $1000 barrier
I totally agree with you, that in the case of the huge dump we won't see 1000$ support being broken, the chance is really small now.
We have insanely strong support on 900$, and also there is a huge support level on 1000$. We are somewhere between 1000-1300 because as you can spot on charts, 1300$ is a really important resistance which may cause a nice rise after a break.
In my opinion, we will stay a little bit longer ( around a month ) on the 1200 USD level and after that, we will see the small drop of price (maximum to 1100$) just to surge back more than on previous level.
We need some events to occur anyway, bitcoin is still not ready to get 1400$ per piece and to defend that floor.
It is pretty interesting that we have already seen many 1300 USD floor tests, and still it is defended without any struggle, we need more money floating into direction of bitcoin to get in there.