Market Update (Jun 20 2022)

Posted On Jun 20, 2022 |

As every day, here is our daily market update. Find out what has influenced the price and what we expect in the coming days.

Good afternoon everyone, I hope you're all well.

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So back with a fresh week and things are getting to the areas we want them to get to. On-Chain is looking much better. We have been eyeing certain metrics saying they need to hit certain targets, and over the weekend, many of them got towards those zones we wanted them to get to. I will explain in a Stream this evening (Stream is for all members, I will upload in approximately 3 hours time).

So, on-chain is one topic, now the macro. The macro is still pretty crap, but we're getting there. I feel we have at least one more surprising inflation print ahead of us, maybe we have a couple more, but either way the FED have to continue being aggressive until they break something as they have to raise rates to help squash demand so that inflation will begin to come down. I think we'll likely get another 75 basis point increase in July and then I think one more in September, and then possibly 50 in each remaining meeting towards year end. So, I think we've got another month or two max, I think the buying time will be in this kind of range, and we're now seeing prices and on-chain indicators suggest we're there, now we're just waiting on the macro.

As I said there will be a Stream tonight and there's loads to cover. I will be focusing on on-chain and then on charts. I highly recommend watching as there is a great deal to talk about considering the developments over the last week.

Lastly, we have entered a new trade, a risky one, but one I think can pay off. I will of course continue to keep you updated and suggest certain levels for profits or stops when they become more relevant.

Let's go.

Categories: Market Update

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