The last stage of Euphoria.
Many of you look to my posts for guidance, currently i feel as lost as many of you.
When is bad news-good news, when is bad news-bad news?
I thought this week would be bullish because of the market movers and media narrative, the wider market are mostly sheepâs, they go where the media and narrative tells them to.
I thought the revised jobs data today might spook the market, it clearly didnât spook it for long.
-818 000 jobs is bullish..weird.
If you look at the news you will find 2 totally different views on this revised jobs data,
For the pro democrat news channels its great "a cooldown in the overheated labour market"
For the pro republican news channels "it shows previously manipulated jobs data to hide the US economy is in terrible shape".
Honestly at this point who knows what data is correct and how much it is altered for political agenda, including what the Fed says or does.
Most importantly for short term price is that it seems like the overall market wants/being led to the last stage of Euphoria.
A few weeks ago a 0.15% rise in interest rates by Japan led to a global stock and crypto crash, the butterfly effect on steroids.
If this is not a warning and a sign of global economic concerns then I donât know what is, the market seems to have forgotten that... for now.
I donât trust any short term (days) crypto price at the moment, up or down, you probably should not either.
Patience is key, the sentiment could change in an instant with the economic and political agenda, it could offer good spot entries in the months to come, also good shorts if fomo pumps the Overall MC to the 2.6T market cap region.
Nearing 2.6T i would look to take profits and short fomo projects at low leverage, just my opinion.
I would strongly advise against chasing moves in the market with high leverage/margin, i really think we will see a lot of unpredictable price action in the coming months.
Buying BTC on dips is never a mistake.đ
Trade safely.
Peace.