π‘ Rationale: The previous unemployment rate showed that the job market remains strong, which likely means that the Feds will continue to being adamant about rate hikes.
Read on. ππ»
With NASDAQ and SPX making new lows, the overall macro trend remains bearish and crypto is likely to follow the downtrend for now with the occasional rallies. The upcoming CPI read on 13th October will determine where the market will move next. If inflation remains high...
..., it is possible that ETH exits this range and breaks below the support towards $1000.
π‘ Rationale: ETH is now back at key support around $1250. Although macro markets took a tumble with the announcement of the unemployment rate...
Read on. ππ»
..., a bullish divergence is being formed and with record levels of puts and shorts, we may see a short squeeze and strong rally towards the mid-term elections on 8 November.
The CPI inflation read on 13 October will determine where the market goes next, if inflation is lower than expected, it could be the start of another bear market rally.
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