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AMZN is proof the news doesn’t make the charts

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JUNE 22 2023
 
   
JEFFRY TURNMIRE’S DISCORD DISCOURSE
 

Jeffry’s told us time and time again — the news doesn’t make the charts.

In fact, at one point he actually cited a study that showed that the worst thing any trader — beginner, professional or otherwise — can do is to follow the news and trade based on it.

But as humans, we all know that emotions are hard to control. And boy do we love a good story. Two big things that the news plays on.

Case in point: Yesterday, headlines like this hit the wire showing that Amazon was in hot water with the FTC:

 
 
If you had let the news dictate what you’re buying and selling, you might have run right over to your account and offloaded all your AMZN shares.

Or maybe bought some puts.

But that would have been a mistake, because this is what the AMZN chart looked like between yesterday and today:

 
 
Today AMZN is up nearly 4% from yesterday’s close.

But it’s not random chance. For weeks, Jeffry’s been working his charting magic and saying that AMZN was due for a pop.

And his Discord readers love him for it. (who wouldn’t?)

 
 
So there you have it.

Next time you’re reading a negative headline (or even a positive one)…

Take a few breaths, close the news website, open your chart and look at the price action.

Or sign onto Jeffry’s Discord and ask questions. He answers them all the time.

Trade safe,

— The Prosperity Pub team
JEFFRY TURNMIRE
Bitcoin Slumps 2%+. Does It Really Matter?
 

Over the past 24 hours, Bitcoin prices took a dip, dropping by 2% (give or take). 
That may be what’s getting all the clicks right now. But given its 20% rise over the past 8 days, it’s nothing to be concerned about.

There are a few reasons for this.

First, Bitcoin is known for its volatility, and it is not uncommon for price fluctuations like this to happen. Second, the overall trend for Bitcoin is still bullish, with several trends pushing the digital currency higher.

In fact, there is a larger cycle at play that is taking Bitcoin higher. This cycle is based on the halving of Bitcoin's block reward, which occurs every four years. The halving reduces the amount of Bitcoin that is rewarded to miners for validating transactions, which makes Bitcoin more scarce and therefore more valuable.

The next halving is scheduled to occur in 2024, and history has shown that every time this event occurs, it has led to a significant increase in Bitcoin's price. 

In the meantime, there is a lesser-known monthly repeating cycle that I’ve been playing every month. Because of a unique phenomenon that happens near the end of every month, the price of Bitcoin gets “artificially suppressed” — allowing traders to get Bitcoin "at a discount."

Of course, no one can predict the future of Bitcoin, and it is possible that the price could drop further in the short term. But the longer term trends I’ve described here bode well for the cryptocurrency.

If you’ve been on the fence about Bitcoin. Or even if you’ve actively avoided it… I want to invite you to a live presentation I’m giving about these repeating cycles.

At the event, I’ll show you all my findings and explain how I’ve devised a way for anyone with just a regular brokerage account to target Bitcoin’s gains.

No fancy account with a crypto exchange. No hard-to-understand crypto wallet.

I go live with all the details tomorrow morning, Friday June 23rd @ 10am Eastern. Click here to reserve your spot.

Hope to see you there!

— Jeffry Turnmire
   
 

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