So if you thought last week was crazy according to the kiboshi letter you are in for a treat this week, so we have six different things here. The may ppi report core retail sales data, the fed interest rate decision, which is going to be happening. Midweek expect a 50 basis, point hike or who knows maybe theyre going to go even higher if they were to do that, i dont even want to know what the markets are going to look like if they were to introduce a 75 basis. Point hike. In addition, key market or housing market data fed chair jerome powell talks twice any time. Jerome powell talks, the market goes down its just very, very bearish, stuff, guys also more retail earnings, but there is a flip side to this. There is opportunity tons of opportunity. How are you going to be capturing it with this knowledge at hand, maybe just maybe its a good time to enter some short positions, of course, not financial advice? Who knows whats going to happen next? No one knows, but we are seeing some major hedge funds, as well as lots of people, pretty confident that the markets going to be going down, as evidenced by this crazy inflation. Why dont? We continue onwards, though, and look at some of our on chain data on crypto quant. So we do know, exchange reserves are decreasing, thats, generally speaking, a good sign. That means people arent holding their cryptocurrency on exchanges, so they typically arent looking to sell it, which is good.

However, looking at some of our other indicators here, rsi is not looking too hot stochastics, not looking too hot and sentiment. We do see low buying pressure. Volume has been going down for a very long time at this point: us investors, arent buying korean investors, arent buying and low fund etf, buying pressure. The money just isnt there its very difficult to see bitcoin going on any sort of run up when we have when were in low volume, so could be the case. It is possible, melt up theory from crypto weatherman, but very difficult to see at this time. Just looking at some of our on chain data here lets continue onwards, though the crypto fear and greed index last week were at 10 last month were at 10 weve just been in fear for a very long time at this point over the last month, or so Very little movement to the upside sure, weve seen some relief rallies here and there, but generally speaking, lots and lots of fear in the markets lets continue onwards, though, and have a quick look an overview of today, because right now the market is down about 3.4 percent. Generally speaking guys, i dont know about you, but when we see this type of price action to the downside on weekends, i i dont know i struggle to see a strong weekend our week coming later on the fact that were dropping this much on low volume. I feel like its only going to get worse during the week.

However, looking at bitcoin still managing to hold around 27k, i did do a little bit of a pull on twitter a couple days ago, and lots of people think bitcoins gon na go back and test that 25k range, which we did wic wick down to about a Month ago, before we saw a little bit of relief, ethereum under 1500 cardano is down around 50 cents solana 32 dollars. Seeing these prices are absolutely insane considering what they were just a couple months back avax below 20 dollars. She being new did in fact gain another zero, just some very, very sad times, depending on your perspective. It could actually be good times because youre looking to dca or going to try and time the bottom, which eventually, we will hit the bottom as bad as its been for the past. You know couple months we will eventually bottom out and from there thats when the opportunity you know presents itself to us. However, looking at bitcoin rsi trending downwards, uh bearish divergence, sorry, i couldnt think for a second there on the macd stochastic rsi is going down as well. Lets go to the weekly time frame. Weve mentioned this a million times well mention it again. Bitcoin has never fallen below a previous all time high in its history. Is it going to break history, hopefully not because right now that sits at around 19 point here we go that wasnt even the all time high. It is right around 19.

8 k thats, where bitcoin set its all time high back in what was it december of 2017 or yeah right around there. So hopefully, thats not the case 200 week, moving average sitting at right around the 21.8k mark and theres certainly been in bitcoins history times where it has retraced to the 200 week moving average, but its always managed to hold the line there, and if it did, it Would wick below it and then wed see a continued move to the upside, so hopefully thats all gon na play out at the very least well be able to present us with some nice opportunities me personally, i intend to start accumulating if we do in fact start To see bitcoin go down to those types of levels have to wait and see on that one.

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