Strateš¾ Update - Week 44 | Q4 | 2024
Risk-on remains, BTC heads closer to ATH after break-out and successful bullish retest
The information and insights are based on my knowledge; donāt take it as financial advice.
News
Emory University has revealed that it holds $16 million in a Bitcoin ETF.
Investment firm VanEck forecasts Bitcoin could reach $3 million in value and become a global reserve asset by 2050.
Hong Kong announces plans to grant more cryptocurrency exchange licenses by the end of 2024.
Top financial leaders, including executives from BlackRock, Goldman Sachs, and Citibank, will gather in Riyadh, Saudi Arabia, this week.
Less than five percent of the global population currently holds investments in cryptocurrencies.
In Switzerland, the city of Lugano has unveiled a statue dedicated to Satoshi Nakamoto, the mysterious creator of Bitcoin.
Pennsylvania has passed legislation aimed at protecting the rights of Bitcoin holders within the state.
Tesla confirmed that none of its $763 million Bitcoin holdings were sold during the third quarter of 2024.
Billionaire investor Paul Tudor Jones stated his current investments include both gold and Bitcoin.
Avalanche has introduced a Visa card that enables users to make payments with cryptocurrency.
Tweet of this week: āCardano and Bitcoin are bridging.ā
Current status 100% Winning strategy: (šµ)ā> (ALL-IN)
a weekly candle close below $58.7k 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. 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) has broken out of the 7-month descending broadening wedge pattern last week and is currently bouncing from upper trend line after a successful bullish retest.
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 58.7k level, the 4-5 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.