11/9/23 Buying Bitcoin


Wednesday was another mixed session on Wall Street

The Nasdaq and S&P 500 extended their longest winning streak since November 2021.

The others posted modest declines…

  • Dow Jones -0.1%
  • Nasdaq +0.1%
  • S&P 500 +0.1%
  • Russell 2000 -1.1%
Image from Shutterstock

Overnight, speculation about SEC-approval of one or more Bitcoin ETFs pushed its price up to new 52-week highs.

At writing, one Bitcoin trades at $36,800, its highest level since May 2022.

  • The best way to own Bitcoin is through self-custody
  • The best way to buy Bitcoin is through Swan
  • Start today with this link, and your first $10 worth is on us

We maintain a long-term bullish outlook for Bitcoin and continue to accumulate weekly through Swan.

Sector Round Up

The sectors split. 5 of 11 ended Wednesday’s session higher.

At the top…

  • Real Estate (XLRE) +0.6%
  • Technology (XLK) +0.6%
  • Materials (XLB) +0.3%

At the bottom…

  • Communications (XLC) -0.5%
  • Utilities (XLU) -0.7%
  • Energy (XLE) -1.3%


Buyers continue to show resilience.

Today’s chart shows how local support levels are holding after last week’s massive bull run

SPY Daily Candles – Chart from thinkorswim

Over the past three trading sessions, buyers pushed prices back up every time the S&P 500 dips.

Our outlook remains bullish.

Your latest readout…


According to a Bloomberg analyst, A two-week window for the SEC to approve a Bitcoin ETF opened yesterday.

The speculative window closes on November 17th.

Bear in mind that approval is only a first step … Trading for a new ETF would likely be months away if approved.


*Low Float
^Open Position

*TNON on watch
*SHOT support at $1.60
*SKWD support at $29.50
^WRAP support at $2.50 / 2.75
ALKT support at $20, resistance at $22
BHVN support at $28

Seconard watchlist—float about 100 million

ROVR support at $7
TBLA support at $4
KD support at $17
support at $30

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