NEWS

Global Tensions Rise

Last week was a nutty one.

Higher than expected CPI, rate cut concerns, underwhelming bank earnings, and heightened Middle East tensions put the hurt on risk assets, with most closing RED on the day (and week) as investors sought risk off assets.

CPI measures the average change in prices for everyday things like housing, clothes, food, services, but it doesn’t give you the full picture of what’s going on

Take a look at how far prices have risen:

• Car Insurance: +22%

• Domestic services: +10.9%

• Beef: +7.6%

• Hospital Services Inflation: +7.5%

• Homeowner Inflation: +5.9%

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Reports that conflict in the middle east was set to rise was the straw that broke the camels back ( pun intended 😆 )

U.S. crude oil soared on this news causing commodities to continue their upward trend whilst risk on assets like crypto plunged.

BITCOIN

Bitcoin’s crash to $65k causes meltdown

Everything seemed ‘ok’ across crypto markets on April 12 until reports of possible conflict were released.

Bitcoin’s (BTC) value plummeted below $65,000, a stark drop from its $71,000 peak earlier that day.

A wave of selling hit the crypto market, causing some altcoins to fall more than 15% in a matter of minutes.

But there’s no need to panic!

This might sound crazy but..

This is normal!

Every 4 years Bitcoin halves mining rewards to reduce bitcoins inflation. Bitcoin's next halving, is just FOUR days away.

Interestingly, prior to the date of the halving, Bitcoin and the Crypto market in general experience a large draw down.

Often coinciding with a larger macro event. The last one being the PANDEMIC. And this one seeming to be a possible conflict overseas.

I don’t know about you but this all seems like a fractal!

The great thing is after the halving, Bitcoin makes newer all time highs (ATH).

No matter the macro event Bitcoin continues to spiral upward! It is up 38000% since 2015 and even more since its inception!

Check out the price action of Bitcoin since its inception 👇️ 

TECHNICAL ANALYSIS

Bitcoin gearing up for new ATH

Bitcoin continues to look strong on the daily. In fact it is painting a bullish pennant pattern.

Check this out 👇️ 

The target for this pattern is expected to be $110,000 BTC, that’s a 64% yield from current prices.

How this could happen?

Hong Kong is poised to become a major crypto hub by approving the launch of new exchange-traded funds (ETFs) that directly invest in Bitcoin and Ethereum.

This groundbreaking move, expected as early as Monday, could flow billions into Bitcoin and the altcoin market driving both to parabolic highs.

Speaking of altcoins.

Technically it doesn’t look great

The overall trend is dropping

Check out this chart that shows all altcoins except Bitcoin 👇️ 

As you can see above, the market pulling back before the halving is normal.

Which means this pull back is the perfect buying opportunity.

Just take a look at what happened last cycle, market tanks pre halving and rip roars to new ATHs.

This is NOT the time to be reserved

You should be accumulating as much bitcoins and altcoins as possible.

Don’t know where to start?

Reply “Session” to Book a COMPLIMENTARY strategy session CLICK 👇️ 

Touch Base Friday 👋