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The impressive performance of #Bitcoin , with six consecutive weekly green candle closes, has significantly diminished my hopes of witnessing a return to the $20,000 mark. However, I now view every dip in the market as a favorable opportunity to enter or increase my position.
Today, we'll focus on DXY's weekly and daily crucial local support levels at $103.650 and $102.855. A potential rebound from these levels could initiate a correction towards $104.9.
It's worth noting that such a bounce might trigger corrections in both the stock market and possibly the cryptocurrency market.
Numerous gaps need closing across various indices pairs.
Considering short positions in the stock market starting next week Tuesday seems like a good strategic move.
Weekly time frame shows us a rejection at resistant level which then let to an accumulation phase where a rising wedge pattern was form.
Upon close examination of the daily timeframe, a potential breakdown of the local rising wedge pattern suggests more downside, indicating a favorable opportunity for a short position.
The highlighted green zones, on the other hand, serve as favorable areas for initiating buy positions.
SECURITIES AND EXCHANGE COMMISSION(Release No. 34-98981; File No. SR-CboeBZX-2023-058)November 17, 2023Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to List and Trade Shares of the Global X Bitcoin Trust under BZX Rule 14.11(e)(4), Commodity-Based Trust SharesOn August 4, 2023, Cboe BZX Exchange, Inc. (*BZX" or "Exchange*) filed with theSecurities and Exchange Commission ("Commission"), pursuant to Section 19(b)(1) of theSecurities Exchange Act of 1934 ("Act')' and Rule 196-4 thereunder,? a proposed rule change tolist and trade shares ("Shares") of the Global X Bitcoin Trust ("Trust") under BZX Rule14.11(e)(4), Commodity-Based Trust Shares. The proposed rule change was published for comment in the Federal Register on August 23, 2023.3On September 26, 2023, pursuant to Section 19(b)(2) of the Act,* the Commissiondesignated a longer period within which to approve the proposed rule change, disapprove theproposed rule change, or institute proceedings to determine whether to disapprove the proposedrule change. This order institutes proceedings under Section 19(b)(2)(B) of the Act° todetermine whether to approve or disapprove the proposed rule change.