July 2023 - Market Overview - Heartbreak or Euphoria. Crypto’s Squeeze before the August September ETF Silly Season

PREMIUM NEWSLETTER FOR PAYING SUBSCRIBERS (Released every Thursday each week).

Before we crack into the fleshy parts of this week’s newsletter…

Welcome to our Market Update edition of the newsletter

In this issue, I’m looking forward to discussing…

- Our market forecast
- The reason Crypto isn’t responding to a raging stock market
- Why Bitcoin investors NEED a recession.
- The ETF hopium may have peaked

I also cover…

- Miners are starting to sell according to the hash ribbon
- Bitcoin’s supply shock should keep investors grounded
- How we are positioning our portfolios from here

Let’s crack in!

We see the Bitcoin situation VERY clearly…

1) 29 Days of pure chop and sideways action designed to frustrate and wreck traders
2) No decisive move with TWO distinct levels to watch.
3) Altcoins have continued to bleed value and underperform BTC.

This is how we see the near term

Directionally, our team has a downward bias as Bitcoin has failed thus far to move to $32,000. It also continues to grind away at 30k support with buyers holding sellers at bay, stepping in on every plunge, but in our experience, that does not last forever.

Bulls look tired after a STRONG 6 months.

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