@GertvanLagen

@GertvanLagen

Share this post

@GertvanLagen
@GertvanLagen
Strateš”¾ Update - Week 35 | Q3 | 2024

Strateš”¾ Update - Week 35 | Q3 | 2024

DXY prints 400-day-low, stocks back at ATH, BTC breaks above 200 day SMA

Gert van Lagen's avatar
Gert van Lagen
Aug 26, 2024
āˆ™ Paid
3

Share this post

@GertvanLagen
@GertvanLagen
Strateš”¾ Update - Week 35 | Q3 | 2024
Share

The information and insights are based on my knowledge; don’t take it as financial advice.

News

  • Tether is set to introduce a stablecoin tied to the UAE dirham.

  • According to Kommersant, Russia plans to establish two cryptocurrency exchanges and release stablecoins pegged to the Chinese Yuan and a BRICS currency.

  • The Federal Reserve is under scrutiny for possibly lagging in its rate adjustment strategy, especially in light of new data revealing 818,000 fewer jobs were created in March than originally reported. The Fed, which is expected to reduce rates from their 23-year peak in September, might need to reconsider its approach given these employment figures.

  • Senate insiders suggest that Kamala Harris is contemplating appointing Gary Gensler as Treasury Secretary should she win the presidency.

Tweet of the week —> ā€œUS economy added 818,000 fewer jobs in March of this year than initially reported.ā€


Current status 100% Winning strategy: šŸ”µā€”> ALL-IN

a weekly candle close below $54.2k would flash the black signal.

CRYPTO:BTCUSD Chart Image by MrGert

Bitcoin

→ Supermacro Context

As long as the price holds above the 54.2k level, the iv-v wave shown below will likely be confirmed by surpassing the ATH set earlier this year. It's evident that the price is still in the iii-iv correction phase, with the exciting final blow-off wave iv-v yet to begin.

Invalidation for wave iv-v to play out lies at $31.8k. Based on historical data a fifth wave seems unlikely whenever price closes two Fibonacci levels lower, in this case a close below $40k.

Notice how wave iii-iv now qualifies as a descending broadening wedge, comparable to the correction containing the COVID-dip [(1)-(2)].

INDEX:BTCUSD Chart Image by MrGert

This post is for paid subscribers

Already a paid subscriber? Sign in
Ā© 2025 Gert van Lagen
Privacy āˆ™ Terms āˆ™ Collection notice
Start writingGet the app
Substack is the home for great culture

Share