Strateš¾ Update - Week 42 | Q4 | 2024
Stock momentum shifts from high caps to lower caps, BTC on the verge of breakout/at resistance
The information and insights are based on my knowledge; donāt take it as financial advice.
News
On Tuesday, Donald Trump plans to introduce a new cryptocurrency token to the market.
The SEC Commissioner conceded that their regulatory strategy regarding the cryptocurrency sector has been detrimental to the entire industry.
U.S. inflation has dropped to 2.4%, though it remains above anticipated levels.
The FBI launched its own cryptocurrency, "NexFundAI," as part of a sting operation that resulted in the arrest of 18 individuals on charges of fraud and market manipulation.
Peter Todd has refuted allegations made in an HBO documentary that identified him as Bitcoin's mysterious founder, Satoshi Nakamoto.
A judge has greenlighted FTX's bankruptcy proposal, allowing the crypto exchange to reimburse customers entirely in cash, including accrued interest.
BlackRock, a $10 trillion asset management firm, noted that the adoption rate of cryptocurrencies is outpacing that of both the internet and mobile phones.
Tweet of this week: āWatching #Bitcoin pump while youāre at work knowing you wonāt stay there foreverā
Current status 100% Winning strategy: (šµ)ā> (ALL-IN)
a weekly candle close below $57.5k would really flash the black signal.
Risk-On Warning: First Blow-Off incoming!
The Yield spread (10-2Y) has reversed well back above zero after staying below for over 2 years. Yield curve has flipped back above zero. With the FED rate now really cut strongly, indicators are lining up in a prerecession formation.
Similar patterns preceded a recession within 6 months in the past, but ignited a final rally first. After that? Sharp collapse. Compare it yourself in the chart below.
Bitcoin - Falling Broadening Wedge - Update
Bitcoin (BTC) is currently priced at $66,000 on the weekly chart and is on the verge of breaking out from a 7-month falling broadening wedge pattern.
Historically, a falling broadening wedge within an uptrend has a 79% probability of breaking to the upside. Additionally, there has been a strong rebound off the 40-week simple moving average (SMA) band, further supporting a potential upward move.
As long as the price closes the week above the 57.5k 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.