StrateG Update - Week 42 - Q4 - 2023
Hope you didn't get bored out
CONTENTS
Overview of this week
Bitcoin - $BTC
Shortterm Elliott Wave
2Y+ channel
Step-like formation
Ethereum - $ETH
Altcap
Stocks
US Dollar Index (DXY)
Supermacro context
Bitcoin
SP500
US Dollar Index (DXY)
Please note that while I can provide information and insights based on my knowledge, it's important to remember that I cannot offer specific financial advice. #nfa
News of this week
Crypto:
The SEC withdraws its lawsuit against Ripple XRP executives, with the Ripple XRP Chief Legal Officer characterizing it as a surrender, not a settlement.
Tesla discloses that none of its $312 million worth of Bitcoin holdings were sold in Q3 2023.
Cointelegraph issues an apology for incorrectly stating that the SEC had approved BlackRock's Spot Bitcoin ETF. BlackRock confirms that the ETF application is still under SEC review.
Coinbase expresses confidence in the approval of a Spot Bitcoin ETF by the SEC.
JP Morgan anticipates SEC approval for several Spot Bitcoin ETFs in the coming months.
BlackRock's CEO, Larry Fink, believes that cryptocurrencies will serve as a safe haven.
An FTX co-founder admits that Sam Bankman-Fried utilized stolen customer funds for political contributions.
US Senator Elizabeth Warren sends a letter to the White House, expressing concerns that cryptocurrencies pose a national security threat and may be used to fund terrorism.
Other:
The Israeli Shekel reaches an eight-year low against the US Dollar after the conflict with Hamas.
The Chinese Yuan surpasses the Euro to become the world's second most utilized currency for SWIFT trade settlements.
The 30-year fixed mortgage rate in the US rises to 8% for the first time in 23 years.
The Federal Reserve Chair, Jerome Powell, asserts that the current fiscal trajectory is unsustainable.
Tweet of this week —> “BTC vs ETH”
Bitcoin (BTC)
Shortterm Elliott Wave - Update
Five weeks ago I showed two options for the current correction in the short-term Elliott Wave started in Nov’22. So far price keeps opting for the running flat option, with this week a strong bounce off the light-green rectangular box.