🚨 The US jobs report was much weaker than expected
The US economy added only 29 thousand jobs in September, versus expectations of 89 thousand, while unemployment rose to 4.2% instead of 4.1%. Also, August’s job numbers were revised downward by 29 thousand.
The news pushed Bitcoin to $87,000, with growing expectations that weak labor market conditions may support the Federal Reserve’s move toward easing monetary policy.
But honestly, there was something I didn’t like about today’s move 👀
The market went up before the data was released, as if it had already priced in the news. So I don’t rule out seeing a reversal and a drop to flush out the impatient traders, before the real move becomes clear.
Don’t be fooled by the first candle—let’s watch how the market reacts after the news instead of chasing the price.
#NFPWatch
#UnemploymentRate
#CryptoNews
The US economy added only 29 thousand jobs in September, versus expectations of 89 thousand, while unemployment rose to 4.2% instead of 4.1%. Also, August’s job numbers were revised downward by 29 thousand.
The news pushed Bitcoin to $87,000, with growing expectations that weak labor market conditions may support the Federal Reserve’s move toward easing monetary policy.
But honestly, there was something I didn’t like about today’s move 👀
The market went up before the data was released, as if it had already priced in the news. So I don’t rule out seeing a reversal and a drop to flush out the impatient traders, before the real move becomes clear.
Don’t be fooled by the first candle—let’s watch how the market reacts after the news instead of chasing the price.
#NFPWatch
#UnemploymentRate
#CryptoNews
