StrateG Update - Week 48 | Q4 | 2023
HH's & HL's for Bitcoin
CONTENTS
Overview of this week
Bitcoin - $BTC
2Y+ channel
Step-like formation
Altcap
Stocks (SP500, Nasdaq)
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 is investigating allegations of fraudulent activities by Binance and its founder CZ, akin to FTX-style fraud, as reported by the Wall Street Journal.
Standard Chartered Bank, with assets totaling $820 billion, predicts that Bitcoin will achieve a value of $100,000 by the conclusion of 2024.
Cristiano Ronaldo faces a lawsuit for endorsing Binance.
MicroStrategy acquires an additional 16,130 Bitcoin, amounting to $593.3 million.
The SEC is considering the approval of a spot Bitcoin ETF, with a potential window for approval falling between January 5th and 10th, 2024.
A U.S. judge warns of potential sanctions against SEC lawyers for obtaining a court order to freeze a crypto firm's assets based on false and misleading claims.
Other
Charlie Munger, the longtime business partner of Warren Buffett, passes away at the age of 99.
Tweet of this week —> “TRIAS continues to grow and is stronger than ever.”
Bitcoin (BTC)
In the weekly chart, $BTC has breached $37.5k and eyes the $47.2k resistance. The diminishing peaks in ‘vertical volume (blue)’ suggest decreasing upward resistance, possibly paving the way for a parabolic move.