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In this episode of the “Fed Watch” podcast, we focus on important macro charts. We cover bitcoin’s chart, currencies like the dollar, the euro, the Hong Kong dollar, and gold as well as energy commodities. We didn’t have time to get to all the charts I prepared, because the live show has time constraints. I will attempt to get a second part out this week to cover the rest of my commodity charts, as well as supply chains and shipping costs. You can find the slide deck of charts here[7].
Other topics covered in today’s episode include President Joe Biden and Federal Reserve Chair Jerome Powell’s meeting yesterday, where I try to flesh out the importance of this Wall Street (Powell) versus globalists (Biden) showdown, and we get into a couple of things from Davos last week, particularly the Kissinger comments about Ukraine.
“Fed Watch” is the macro podcast for Bitcoiners. Each episode we discuss current events in macro from across the globe with an emphasis on central banks and currency matters.
Currencies
The first currency we talk about is bitcoin. I discuss the recent pop in price on Memorial Day, and how it is simultaneous with a growing bullish divergence in the indicators.
However, I also go back in time to roughly one year ago, when there was a very similar situation. In June 2021, there was a bullish divergence in these two indicators and a breakout of a descending wedge. That move was a fake out, cut short by the Grayscale (GBTC) unlock wave in July. The current situation is similar on the chart, but not similar in the fundamentals. I
