The US economy added just 29,000 jobs, a huge miss from the 84,000 expected.
That sent the odds of a Fed rate hike this month collapsing from 64% to 18% in a week. Bitcoin wicked to $87,229 on the news but ran straight into a wall of ask liquidity at $87,300 and reversed clean.
The market got the perfect dovish catalyst it was waiting for, and the rally was sold instantly. We're now back at $84,700, trading below both the 20 and 50-period EMAs.
Bullish news, bearish price action. Which one is lying?
$BTC #Bitcoin
More of these coming today. Follow to catch them as they land.
That sent the odds of a Fed rate hike this month collapsing from 64% to 18% in a week. Bitcoin wicked to $87,229 on the news but ran straight into a wall of ask liquidity at $87,300 and reversed clean.
The market got the perfect dovish catalyst it was waiting for, and the rally was sold instantly. We're now back at $84,700, trading below both the 20 and 50-period EMAs.
Bullish news, bearish price action. Which one is lying?
$BTC #Bitcoin
More of these coming today. Follow to catch them as they land.
