Tariffs, Oil, War and Bitcoin 👇
🇺🇸 The temporary 10% global tariff expires on July 24, and the administration is preparing a new round. Up to 60 countries would be affected, covering almost the entire volume of US imports.
🛢️ Brent crude oil broke above $90 per barrel amid escalating tensions with Iran, while US gasoline prices officially climbed back above $4 per gallon. War with Iran is far from the end. This is a new Afghanistan.
₿ Amid positive news surrounding the Clarity Act, Bitcoin climbed above $66.5K. Twitter is once again calling this the “end of the bear market.” But when is it ever any different?
The 21 EMA sits around $69K, and Bitcoin is approaching this resistance zone.
We’ve already booked 3 mother of shorts from the BTC top, and this would be the 4th. If you missed the earlier ones, this is a solid area to consider a short. I expect price to ultimately go lower, but 55k is a conservative target. We’ll be holding this short for deeper downside.
Capitulation still ahead, with roughly two more months of bear price action before we bottom.
Tick tock ⏳
$BTC $XAUT
🇺🇸 The temporary 10% global tariff expires on July 24, and the administration is preparing a new round. Up to 60 countries would be affected, covering almost the entire volume of US imports.
🛢️ Brent crude oil broke above $90 per barrel amid escalating tensions with Iran, while US gasoline prices officially climbed back above $4 per gallon. War with Iran is far from the end. This is a new Afghanistan.
₿ Amid positive news surrounding the Clarity Act, Bitcoin climbed above $66.5K. Twitter is once again calling this the “end of the bear market.” But when is it ever any different?
The 21 EMA sits around $69K, and Bitcoin is approaching this resistance zone.
We’ve already booked 3 mother of shorts from the BTC top, and this would be the 4th. If you missed the earlier ones, this is a solid area to consider a short. I expect price to ultimately go lower, but 55k is a conservative target. We’ll be holding this short for deeper downside.
Capitulation still ahead, with roughly two more months of bear price action before we bottom.
Tick tock ⏳
$BTC $XAUT