Bitcoin short term chartI am closing the remainder of our position at current levels expecting to see a break of the 50k level to complete the first leg of a retracement. I then expect to see a bounce back towards the bottom of the channel before another sell off. It

What happened last week ? * Morgan Stanley becomes the first US big bank to offer Bitcoin to wealthy clients * Asset management giant Fidelity files for a bitcoin ETF * Brazil has approved the region's first bitcoin exchange-traded fund (ETF) * Coinbase direct listing is pushed to April * Crypto asset manager CoinShares

Bitcoin short term chartLast time we said > A push back above 57300 should confirm that wave iv has ended with the 61.8% retracement level at 52250 another level we would buy placing stops below 50000. At the moment the divergence calls for a low in place soon and

What happened last week ? * PayPal CEO Reveals Plans for New Crypto Unit * Goldman Sachs : Bitcoin’s 2021 Returns Destroy Everything on Wall Street * Citibank: Bitcoin Will Lead to Powerful Change and Revolution * Digital Artist Beeple Sold the World’s Most Expensive NFT * JPMorgan Is Eyeing Bitcoin And Crypto Clearinghouse Options

bitcoin short term chartIt couldn’t have gone much better since my previous update when we said > ‘As I type this we are 34900 and would buy now and on a break of 38650 with stops initially below last weeks low at 28860.’ So we are now long double

BUSINESS Tesla Buys $1.5 Billion in BitcoinCryptocurrency’s price soars after electric-vehicle maker says it soon expects to accept customer payments in bitcoinThe Wall Street JournalCaitlin Ostroff and Rebecca Elliott [https://www.wsj.com/articles/tesla-buys-1-5-billion-in-bitcoin-11612791688] Bitcoin: why a wave of huge companies like Tesla rushing to invest could

Bitcoin short term chartLast time we said > ‘A move below 31017 will imply a larger correction is taking place. But we would use this opportunity to buy with stops below 28860.’ We traded down to 29241 before rallying 30 % off the lows to 38627 . Since then we have retraced

BUSINESS * The Gamestop Narrative : Reddit forum WallStreetBets squeezing the short position of a formerly high-flying hedge fund. Small investors are empowered like never before. * After the issue with RobinHood App, Traders are moving to cryptomarkets. * Wall Street Bets (WSB) craze pumps on XRP and Silver * * Elon Musk changed his Twitter

Business * More institutions are rallying funds. Grayscale starts new funds including Tezos * Ethereum has celebrated its 7th birthday and reaches its new all-time high to 1419$ early Monday morning * Asia massive sell after rumors of a 'double spend' knocked confidence. * DeFi ( Decentralized Finance) Market  is an emerging with

Last time we said > ‘I would close the current long and look to buy at 29700 , 25920 and 22126 with stops below 16220.’ An impulsive push above 34862 wand a break of the channel will signal the next leg higher is underway. A move below 31017 will imply a

Business * Grayscale has best day ever with $700 million in investment * Ethereum reaches new all-time high to 1419$ * Gary Gensler is officially Biden’s pick for SEC chairman * Investors are betting against the U.S. dollar * Last Thursday, President Joe Biden unveiled his $1.9 trillion dollar coronavirus economic relief

Bitcoin Last time we said > ‘ It is possible that wave (iv) has already finished and if so look to buy on a break above 38772.’ We also suggested scaling in buying on the way down to the 22100 level. XBT rallied to 40094 getting us long again. I am

France Declares War on Crypto Anonymity, Cites ‘Terrorism’ in KYC Mandate - CoinDeskThe French finance ministry is imposing sweeping KYC rules on all VASPs in the country.CoinDeskDanny Nelson [https://www.coindesk.com/france-kyc-crypto] The French Ministry of Finance unveiled sweeping know-your-customer (KYC) requirements on all cryptocurrency companies operating in

How U.S. Banks Can Start Planning to Deliver Crypto Custody Services | ABA Banking JournalWill the OCC’s clarification that U.S. banks can hold a cryptocurrency’s unique cryptographic keys turn out to be the onramp into a new revenue stream?ABA Banking Journal [https://bankingjournal.aba.com/2020/

On-chain metrics show that older coins are being sold as BTC's price increases, indicating that long-term holders are realizing profits. But while this might seem alarming, this trend has historically been extremely bullish.

In a Nutshell The Stock-to-Flow (SF or S2F) model is a way to measure the scarcity of a specific ressource. It compares different 'store of value' commodities like gold, silver or platinum and is famous for its Bitcoin scarcity modelisation. * The Flow ratio is calculated by using two