What's Going On In Macro !!??? Charts and More - Live 5/31/23 | E349
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In this episode, I try to cover macro charts of important assets and price signals. Many people get deep into the weeds of macro when they should be able to simply look at the charts and evaluate where we are.
Many people will claim that charts can lie to you, and that the market is a random walk, but that is absolutely false. Instead, they will claim some extra-ordinary ability to read the charts of "fundamentals", which is just one more step removed from doing analysis directly on the price.
I remember a couple years ago, I was using a Google Search Trends chart and drawing a line on it to show a breakout in attention for bitcoin. Someone remarked, "we're doing TA on Google Trends now?" Any "metric" or fundamental is going to be presented versus previous data/history. It is technical analysis on a derivative of price believe it or not. Better to look directly at price, it'll have all the information needed IF you are approaching the market with a proper understanding of how things work. Enjoy.
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#bitcoin #macro #geopolitics