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 Bitcoin ETF approvals may have key timing as the Ichimoku Cloud demands BTC price keep climbing into 2024.
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 <p>Bitcoin (BTC) may cruise to nearly $50,000 as the United States okays the first spot price exchange-traded fund (ETF).</p>
 <p>As flagged by popular analyst CryptoCon, the Ichimoku Cloud indicator is counting down to upside BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> continuation.</p>
 <h2 id="analysis-43-000-btc-price-is-most-conservative-level">Analysis: $43,000 BTC price is "most conservative level"</h2>
 <p>Bitcoin is in a rare position on weekly timeframes when it comes to Ichimoku Cloud signals.</p>
 <p>As Cointelegraph reported, the indicator, which combines past, present and <a rel="noopener noreferrer nofollow" title="future" href="https://thebittimes.com/tag/future.html">future</a> trading cues, suggests that the BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> gains have only just begun.</p>
 <p>In a post on X (formerly Twitter) on Nov. 27, CryptoCon was able to deliver a specific target for what could happen next.</p>
 <p>Ichimoku’s leading spans have crossed, leading to the formation of a new upside cloud. With the lagging span, Chikou, breaking out of resistance, <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> should now logically head higher.</p>
 <p>“The Weekly Ichimoku cloud called our last Bitcoin rise to 38k 2 months in advance with the cross projected in the <a rel="noopener noreferrer nofollow" title="future" href="https://thebittimes.com/tag/future.html">future</a>,” he wrote.</p>
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  “Now we wait for it to fill its next calls, the completion of our rise and the first target of 43k. This has taken anywhere from 7 to 11 weeks from the cross, an average of 10 weeks means our move completes in early January.”
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 <figure><img src="https://cdn.thebittimes.com/images/2023/11/28/99895a8b1f1556d779b41ef7bcd7c982.webp">
  <figcaption style="text-align: center;"><em>Bitcoin Ichimoku Cloud annotated chart. Source: CryptoCon/X</em>
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 <p>CryptoCon added that $43,200 was in fact the “most conservative level,” and that $48,000 was a suitable ceiling.</p>
 <p>He concluded:</p>
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  “Even with some pause in between, the indicator that looks into the future says we are not done!”
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 <figure><img src="https://cdn.thebittimes.com/images/2023/11/28/c4e9bb6606b0c95a498ffe239d46a316.webp">
  <figcaption style="text-align: center;"><em>BTC/USD 1-week chart with Ichimoku Cloud features highlighted. Source: TradingView</em>
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 <p>Bitcoin traded at $37,000 at the time of writing on Nov. 28, per data from Cointelegraph Markets Pro and TradingView.</p>
 <h2 id="a-match-made-in-heaven">A match made in heaven?</h2>
 <p>Ichimoku’s timing is arguably as interesting as its targets.</p>
 <p><strong><em>Related: $48K is now ‘reasonable’ BTC price target — DecenTrader’s Filbfilb</em></strong></p>
 <p>Should traditional timing play out, based on previous bull markets, the $48,000 move should come in early January — coinciding with the expected ETF approval date.</p>
 <p>Little is known about what U.S. regulators have in store, or which specific ETF products, if any, will get the green light first.</p>
 <p>In the meantime, the Securities and Exchange Commission (SEC), in charge of the ETFs coming to market, continues to pressure crypto sentiment with enforcement actions against Binance, the world’s largest exchange.</p>
 <p>A $4.3 billion fine and the removal of Changpeng Zhao, known as “CZ,” as CEO has meanwhile benefited the shares of rival exchange Coinbase, these up over 250% year-to-date.</p>
 <p class="post-content__disclaimer">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-metric-that-looks-into-future-eyes-48k-btc-price-around-etf-tbt71861.html">https://thebittimes.com/bitcoin-metric-that-looks-into-future-eyes-48k-btc-price-around-etf-tbt71861.html</a></p>

Bitcoin metric that 'looks into future' eyes $48K BTC price around ETF

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