Strate𝔾 Update - Week 6 | Q1 | 2024
"The blow-off top, often the town's laughter, is quietly staying on course to unfold, my friends!"
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
Strate𝔾 Channel update January: LINK TO YOUTUBE
Key take aways
Net inflow to Bitcoin ETFs equates to +46,944 Bitcoin —> data;
Bitcoin is starting to follow the blowoff top playing out for stocks.
Both S&P 500 as Nasdaq-100 have reached again fresh ATH’s this week and closed the week at those higher levels as well.
I'd love to hear your thoughts or any suggestions you have for this newsletter! What rabbit hole should be explored in the next release?
News of this week
BlackRock acknowledges that Bitcoin facilitates the creation of worldwide internet value, enabling assets to transfer across borders at minimal expense and nearly instantaneously.
The net increase in Bitcoin ETFs amounts to an acquisition of 46,944 Bitcoin.
The United States' national debt has surged to a record-breaking $34.2 trillion. Powell has said this debt spiral is unsustainable.
Tweet of this week —> “#Cardano stands out for its fundamental superiority over #Ethereum and #Solana”
Current status 100% Winning strategy: 🔵—> ALL-IN
Bitcoin (BTC)
Earlier this week, I shared this structural comparison between $BTC and the S&P 500. It’s obvious that in terms of directionality the two are very much correlated.
Both lost green support zone after hitting ATH EOY’21;
Both formed a Head and Shoulders bottom below the lost support, i.e. resistance;
Both tested the lower band of the support zone after break-out (BTC twice, S&P once).
SP500 is already printing fresh ATH’s for weeks in a row, it’s very likely that Bitcoin will follow within a few weeks.
