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TACO or Art of the Deal?

Why the 'TACO' or 'Art of the Deal' frameworks miss the grander point. Bitcoin price action analysis and key levels.

Nik Bhatia

Mar 23

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Dear Readers,

Everybody loves a good taco meme, but TACO is just the wrong way to think about what happened in markets today and the way that markets have been behaving over the last several years. TACO stands for “Trump Always Chickens Out,” and while it makes for a fun post, it does not encapsulate how we need to be thinking about these markets.

In today’s letter, I am going to continue to avoid opinions about the war itself and instead have to use the markets to give me signal. Those markets most specifically are oil, the dollar, and volatility, and to a lesser degree, US Treasuries and stocks. I want to go through the candles today and try to make sense of them. But before we do that, let me lay out the thesis for why this is not TACO. We close on bitcoin technical analysis and if it looks to be bottoming.