President Joe Biden has withdrawn his nomination for re-election in November and endorsed vice-president Kamala Harris as his replacement. No matter your politics, you have to respect the man for putting the needs of his country first.
Bitcoin welcomed the news by rallying to $68K.
Conclusion
Bitcoin is headed for a test of resistance at $72K, signaling risk-on for financial markets.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.