The BTC/USD is trading in a very narrow range. The SEC seems to be warming up to a Bitcoin ETF in the future. The technical picture is balanced due to the lack of movement. The price of bitcoin got stuck in a very narrow range in the past week. The phenomenon puzzles many market analysts which got used to significant movements to the upside and to the downside. The daily change in BTC/USD prices had already narrowed down early in the month but recent days saw movements similar to those in bond markets, not Bitcoin. Will the crypto-craze return? The Securities and Exchange Commission published the memorandum from the meeting on the Bitcoin Exchange Traded Fund (ETF) and said that the significant derivatives market is necessary for an approval. The futures market is almost one-year-old and looks quite mature. Will the next request succeed? Markets remain cautious and many analysts do not expect an ETF to come in 2018. The spring of 2019 may see such an approval. A Bitcoin ETF is important in order to enable mainstream investors to jump into cryptocurrency markets. See: Bitcoin ETF explained: 9 questions and answers about the critical crypto catalyst Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel BTC/USD Technical Analysis – No movement The BTC/USD is trading in a narrow range between $6,355 and $6,457 in recent days. Bitcoin is trading close to the 50-day Simple Moving Average, but just below. Momentum and the Relative Strength Index are totally flat. Technical analysis textbooks suggest that periods of low volatility are followed by explosions. But to which direction? Outside the current range, the technical levels have not changed since the previous outlook. $6,600 capped the pair in recent days and also in early September. The 50-day SMA is around this level. $6,800 is a strong line of resistance. The BTC/USD halted twice around this line in September, and the level also served as support in late August. $7,150 worked in both ways in late August and early September when the pair traded at higher ground, and it is closely followed by $7,200. $7,400 was the peak at the beginning of last month. Below the uptrend support line, we find $6,300 that was a low point in late September. Further down, $6,200 was a cushion in August, and $6,100 was a the flash-crash low of mid-September. Below the round number of $6,000, we are down to the 2018 lows at $5,800. The Forecast Poll of experts provides interesting insights. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUD/USD Technical Analysis: Aussie rebounding from yearly low as 0.7100 is back in sight FX Street 4 years The BTC/USD is trading in a very narrow range. The SEC seems to be warming up to a Bitcoin ETF in the future. The technical picture is balanced due to the lack of movement. The price of bitcoin got stuck in a very narrow range in the past week. The phenomenon puzzles many market analysts which got used to significant movements to the upside and to the downside. The daily change in BTC/USD prices had already narrowed down early in the month but recent days saw movements similar to those in bond markets, not Bitcoin. Will the crypto-craze return?… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.