"Powell and Trump's Pump" & New Study Showing BTC Fractal Target

24 ago

We had a nice pump in the markets today, stemming from J Powell's comments from Jackson Hole signalling not only one rate cut coming in September, but likely multiple (not priced in).

RFK also kinda sorta endorsed trump but still kept the Hail Mary option open for him to still get elected (Don't hold your breath, although I'd love to see that. RFK had a great speech at Bitcion 2024 and is a good man, but doesn't have the votes).

Markets reacted positively and some are boldly saying 'The Bull Run is Back'. 🚀

We shall see.

Students of Hurst's Market Cycles will also note that this week (tomorrow the 24th preciely) should be the weekly cycle low, so that could also be a contributing factor.

In this video, I briefly review the IBIT chart showing one open unfilled gap lower (this can take awhile and so this is still on the table) as well as the new BTC fractal study I mentioned.

(But I forgot to share the DXY chart showing that we're testing the important 101 level, which is looking like it's going to cut right through it like a hot knife through buttah).

Most interesting...

Check out this fractal overlay I pulled from earlier in the year, showing the possible path of Bitcoin higher, and that almost exacly lines up with current / previous trendline S&R as well as my Fibonacci price target of $150, which you can review in some of my other posts here...

Finally seems like we'll have the wind at our back soon.

While this was a nice breeze, I'm going to remain cautious and wait for confirmations higher to go 'all in'. For me, that's seeing confirmed closing price action above 74k.

See the video for some specific / excact entries.

If you'd like me to cover anything in future videos, leave a comment below.

Thanks again to the TradingView team for choosing my last video as 'Editors Pick' today! 🚀🚀

Keep up the good work guys!