Companhia Vale do Rio Doce (VALE: NYSE)

Vale (VALE), a leading Brazilian iron ore producer, is positioned for growth as its iron ore sales are expected to increase to approximately 360 to 370 million metric tons by the end of the five-year forecast period. This growth is attributed to Vale bringing back online a significant portion of the 100 million metric tons of capacity that was offline following the Brumadinho dam disaster in 2019. The current support for iron ore prices, driven by positive sentiment around China’s reopening and robust steel output, is anticipated to contribute to improved gross margins for VALE.

In addition to its growth prospects, VALE stands out as a dividend powerhouse, offering an impressive yield of 13.6%. The bullish outlook on VALE suggests support levels above $14.00-$14.50, with a targeted upside in the range of $23.00-$24.00.

Bitcoin (BTCUSDT)

Bitcoin faced rejection at the $48,000 level and is presently trading at $45,700. The recent run-up in Bitcoin’s price, particularly in anticipation of this week’s ETF announcement, has led to an overbought condition. Notably, the presence of wicks to the upside on recent daily candles suggests increased selling pressure.

There is a belief in the market that a correction is imminent, with the expectation of testing lower levels of support in the coming week. Potential support levels for Bitcoin include $45,000, $40,800, and $38,400. Traders and investors are closely monitoring these levels to gauge potential buying opportunities and to adapt to evolving market conditions.

Theta Network (THETAUSDT)

In response to the recent announcement of a Bitcoin (BTC) spot exchange-traded fund (ETF), there is an anticipation of a capital flow shift from Bitcoin to alternative cryptocurrencies (alts) in the coming weeks. In this context, a potential long trade is being considered for THETA.

THETA’s price faced rejection around $1.45 three weeks ago and has since experienced a retracement. Currently situated within the resistance range of $1.15 – $1.20, the possibility of further rejection exists. If this rejection occurs, there could be a downside movement with potential support levels at $0.975 – $1.026 and, if further downside occurs, at $0.85 – $0.90.