Today's Top Crypto Headlines:

Saylor’s Bold Pitch | Sky USDS Stablecoin | Coinbase Wrapped Bitcoin Delist and more...

Author

King Fatrick Gil Añasco
November 20, 2024

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. Saylor’s Bold Pitch: Michael Saylor is set to pitch Microsoft’s board on adopting Bitcoin as part of its treasury strategy.

  2. Sky USDS Stablecoin: Sky, formerly Maker, has launched the USDS stablecoin on Solana to strengthen the blockchain's DeFi ecosystem.

  3. 📈Technical Analysis Masterclass - Pepe is retracing to 0.000019 after several days of upward movement. Watch UseTheBitcoin’s latest Youtube video “Is Pepe About to Bounce?” to know if is it safe to buy now or join our Official Telegram Channel for more alpha!

  4. 💡Feature of the Day - Coinbase Wrapped Bitcoin Delist: Coinbase will suspend Wrapped Bitcoin (WBTC) trading on Dec. 19, citing compliance concerns.


    All this and more in today’s headlines!

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📰 News Highlights:

Saylor’s Bold Pitch [Source][Source][Source]

Michael Saylor, MicroStrategy Chairman, is preparing to pitch Microsoft’s board on adopting Bitcoin as part of its treasury strategy.

He argues Bitcoin could stabilize Microsoft’s stock by converting excess cash reserves into tangible assets.

Despite earlier rejections from CEO Satya Nadella, Saylor has secured a three-minute presentation slot, aiming to highlight MicroStrategy’s 300% stock outperformance, fueled by Bitcoin.

Sky USDS Stablecoin [Source]

Sky, formerly Maker, has launched its USDS stablecoin on Solana, marking a significant step in boosting the blockchain’s DeFi ecosystem.

The rebranded stablecoin aims to foster new trading and lending opportunities while competing with industry giants like Tether and USD Coin.

Early adopters and liquidity providers stand to earn $500,000 in rewards as part of the launch.

 📈Technical Analysis Masterclass:

Key Observations:

  • Fibonacci Retracement: Pepe is above the golden ratio, a crucial level often signaling potential for a bounce. This suggests buyers may step in soon.

  • Support Levels:

    • Current level at 0.000019 shows promise for entry.

    • 0.000016 (previous resistance) could act as a stronger support if retracement continues.

Proposed Trading Plan:

  1. Buy Small at Current Level: Start with a small position at 0.000019 to capture potential upside.

  2. Accumulate at 0.000016: If the price retraces further, add more at this stronger support zone.

  3. Set Stop-Loss: Place a stop-loss below the golden ratio to minimize risks.

  4. Profit Targets: Use Fibonacci extension to set profit levels at 0.000026 and 0.000029, key zones likely to test during the next bullish move.

  5. Monitor Consolidation Breakouts: Add to your position if Pepe breaks above its consolidation range.

💡 Feature of the Day: 

Coinbase Wrapped Bitcoin Delist [Source][Source][Source]

Coinbase is suspending trading for Wrapped Bitcoin (WBTC) starting Dec. 19, citing compliance issues.

While WBTC remains the leading Bitcoin wrapper with $13 billion in total value locked, controversies around its custodian, BitGo, and affiliations with Justin Sun have raised transparency concerns.

Coinbase has been criticized for favoring its own wrapper, cbBTC, which has gained traction since its September debut.

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

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See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com