📊 New Data Released! The results indicate that the labor market is starting to weaken → unemployment rises by 4.3% and job growth is thin. This means that the chances of The Fed cutting interest rates soon are getting stronger 🚀.
📈 For our position: ✔️ Long has been closed with profit ⏳ Short is still ongoing → we are waiting for the next decline opportunity
🔥 Stay focused, momentum is still there, but be disciplined in finding new entries to maximize results
Initial Jobless Claims: 237K (worse than forecast 230K) → signals of a weakening labor market → crypto briefly got a boost.
ISM Non-Manufacturing PMI (August): 52.0 (higher than forecast 50.9) → the services sector is becoming more expansive → USD strengthens → pressure on crypto.
ISM Non-Manufacturing Prices: 69.2 (slightly below forecast 69.9) → service inflation weakens a bit, but the impact is not too significant.
🔑 Conclusion: Jobless Claims briefly caused crypto to rise, but ISM data is more dominant, suggesting that the market direction may lean towards a strong USD → crypto is vulnerable to correction.
⚡ Make good use of the news wisely and be careful, guys, and also don't forget to ask chtgpt😂😂 $BTC #RedSeptember
Market could be mixed which initially USD was dominant, but if inflation becomes the focus → crypto could get a rebound opportunity. Sideways doesn't mean it's safe guys. The market could just be waiting for a moment to spike. Don't forget to lock TP/SL before FOMO, guys! 🚀🚀🚀
Stay consistent in maintaining your strategy & always be careful, guys, so you don't get trapped and experience the same situation again in the crypto market 🚀📉
US PPI data for July was released above expectations, causing a market dump for a few minutes… but it turned out to be just a brief volatility. 📉➡📈 Crypto immediately rebounded, showing that the current bullish sentiment is still stronger than the pressure from producer inflation data.