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Ualifi Araújo
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Bullish
#BTC fell to its support level at $98K, which is obviously where it matters. Everyone saw that as soon as the data was released, everything plummeted... so there's no denying that the data was bad.
I'll write here what I think, but AGAIN: I'm not an economist, this is just my thoughts to try to bring some clarity to why this price action.
Let's get to the data...
1. ISM Non-Manufacturing PMI (Dec): Came in above expectations (54.1 vs. projection of 53.5 and previous of 52.1), indicating that the US services sector is stronger than expected. This may suggest a resilient economy, which increases the likelihood that the Federal Reserve will maintain a restrictive monetary policy (i.e., keep interest rates unchanged).
2. JOLTS Job Openings (Nov): Also exceeded expectations (8.098M vs. 7.730M projection and previous 7.839M), showing that the job market remains buoyant. A strong job market contributes to higher inflation, which could pressure the Fed to be more cautious in any possible cuts and reinforces this narrative of having to continue fighting inflation with high interest rates.
EVERY time we have data that could impact prices, I always post it here in advance so that everyone is prepared.
Obviously this drop delays everything again, but it doesn't change the end GAME at all. The blue band around $98K on my daily BTC charts should act as support.
Altcoins should react better and faster now. Note that BTC fell -4.30% and altcoins almost the same amount, showing that they are STRONG even with this -7% drop.
I AM SIGNIFICANTLY increasing my positions in small altcoins added in 2024. I am only keeping 1% of my capital out of the market for future purchases of altcoins that I LIKE the project and I do not have ANY Position in yet.
GOOD LUCK EVERYONE! 💛✊🏻🚀
I'll write here what I think, but AGAIN: I'm not an economist, this is just my thoughts to try to bring some clarity to why this price action.
Let's get to the data...
1. ISM Non-Manufacturing PMI (Dec): Came in above expectations (54.1 vs. projection of 53.5 and previous of 52.1), indicating that the US services sector is stronger than expected. This may suggest a resilient economy, which increases the likelihood that the Federal Reserve will maintain a restrictive monetary policy (i.e., keep interest rates unchanged).
2. JOLTS Job Openings (Nov): Also exceeded expectations (8.098M vs. 7.730M projection and previous 7.839M), showing that the job market remains buoyant. A strong job market contributes to higher inflation, which could pressure the Fed to be more cautious in any possible cuts and reinforces this narrative of having to continue fighting inflation with high interest rates.
EVERY time we have data that could impact prices, I always post it here in advance so that everyone is prepared.
Obviously this drop delays everything again, but it doesn't change the end GAME at all. The blue band around $98K on my daily BTC charts should act as support.
Altcoins should react better and faster now. Note that BTC fell -4.30% and altcoins almost the same amount, showing that they are STRONG even with this -7% drop.
I AM SIGNIFICANTLY increasing my positions in small altcoins added in 2024. I am only keeping 1% of my capital out of the market for future purchases of altcoins that I LIKE the project and I do not have ANY Position in yet.
GOOD LUCK EVERYONE! 💛✊🏻🚀
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