Let’s talk about that and I want to get into a little bit of a macro view as well as the cryptocurrency training the setups that I’m seeing now. We’ve got some short side potentials, some nice high probability with very low risk. We’ll look at that and, of course, I want to get into the macro picture as well.
Let’s dive into the news today. Obviously the biggest thing is the Fed has raised interest rates by 0.75 percent. This was not a shock to anyone and basically the long story the big hype here every news outlet is covering this everything to do with their interest rate rises. The big news out of this is. It was not a shock to anyone therefore the market’s pumped that’s basically your 30-second bite-sized piece of what has happened no one was shocked about this. Therefore markets have pumped. So, if you’re trying to figure out why this is all happening on bad news no one was shocked by this or at least the smart money wasn’t shocked by this they front ran it. You can see that on the hourly chart with the trend increasing as we’re coming into that news event and then the market.
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Basically, just pumps from that point, so that’s what has gone on over the last 24 hours. The key critical thing here now is for bitcoin to remain above these levels like we looked at 22 and a half thousand. The next level that has just been printed was the peak from today’s bar so we’ve got about 14 hours to go for the close that peak is now 23 455. Where does that come from? We look left all right. We look left of the chart and look at our horizontal line. The market closed here at the peak on july 19th july 20th had our reversal bar. Now we’re seeing another peak at this level here. So, we need to get above that level over the next one to two days just to get that strength on for this next move to test around the 24’s and a half up to about 25 000 yesterday. We’re looking at this as a potential uh move to the upside the thing we didn’t want to see was the market break down and get closers lower. That was pretty much what I was expecting not to happen based on. What we’re expecting with the interest rate announcement, so we’re looking at it to be around that 0.75. Maybe, it was going to be a little bit higher one percent, but like we talked about yesterday.
What is happening at the moment is what the smart money is expecting. so even though it sounds like bad news to the retail investor who thinks there’s a recession coming. Even if there is a recession. Then they think the worst happens after that point after the announcement of a recession. Those are unfortunately going to get swallowed up and basically rammed up the backside yet again as retail investors because they’re not front reading what is going on. At this point in time people tend to focus a hell of a lot on the small short term pictures but the macro here is really telling us that we are in a bigger play for a more macro picture over the next several years of solid upside moves. This is going to play out. Of course, in my opinion, here is that we’re going to get past all this interest rate fears. We’re going to get past the inflation stuff and call me a fool. I know I see it in the comments every now. Then people say you don’t know, what’s going on there’s all this bad stuff going on.
Tell you about the bad news that is essentially what those are getting lapped up time and time again they’re getting destroyed. They’ll get it destroyed again. What is going on is we’re going to find our way out of this and then before it. We’re going to be at higher prices and then the market continues up with the bullish macro picture now. Here’s my little rant for the piece of the video. I’ve been traveling now for the entirety of this summer basically from July nearly the last month. But, looking at things from June I’m here for August. I’m overseas for September. I’ve gone around to multiple cities in Italy. Obviously, I’ve traveled through from Australia to the Middle east. I’m going to Greece now. I’m going to Turkey and then back home through southeast Asia. I posted on my instagram another little show where instagram and twitter are down.
Even if the word recession comes up in the news the majority of those. People are probably sitting at home on their computers or their basements whatever and just worried about this whole recession where they’re trying, they’re needing to prepare and stockpile for the worst that’s going to come. Yes, this is the summer time. We’ll probably see some sort of drop or some downside fear come in the winter for the northern Hemisphere. Remember, but, overall, we’re in a macro up picture. If this was supposed to be some sort of recession coming up. I’m not seeing it across Australia, Southeast Asia, Middle-East Europe and for you guys in the US. I’m sure you’re not seeing it as well in many of those cities which I hear from you. There is no bad economic crap going on at the moment the economy has bounced out sure it’s on the back of a lot of money printing.
But, I mean look, take a look around the world, things are still going well. Hear me out, the time will come where things will get very bad. The time will definitely come for that. But, I don’t think it is right now. I’m definitely not seeing the signs of it as I travel around the world so that’s my little rant. That is a more macro picture which is what gives me confidence to invest for the longer haul for macro stuff like bitcoin for macro stuff like real estate and more importantly the land value for the longer term picture.
This article is a transcription of a video made by Jasson Pizzino
Original video: https://youtu.be/BkcW5rGOwnM
