Telegram Trading

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Assessment: It is funny how desperate this market wants low interest rates. Less than a week after the Fed confirmed they are going to be holding rates up because of persistent inflation issues, one bad jobs report and everyone thinks rate cuts will be coming at the next meeting it seems. A little wacky, but that’s how the market can be. I will be curious to see the volume behind any move today. It’s been pretty dull in this market all year except for some spurts here and there.

Bitcoin is currently being held back by the 50 day SMA. Bulls need to crack that level. The $60,000 level remains the essential support for bulls to hold. Chart:

Good luck in your trades!