Bitcoin Monthly Trend: April -20%
BTC Monthly reflects slowing momentum, with PA failing to gain 7 SMA as support.
Massive double top setting up for major correction greater than -20% in early May due to broader economic headwinds.
Inflation reporting for March comes in CPI 4/11 & PPI 4/12. Federal Reserve FOMC meeting in early May prior to April inflation numbers published.
Monthly consecutive declines in home sales with major miss in durable goods, while bond yields begin inversion and prices continue sharply rising.
Risk off environment will increasingly gain steam with rapidly declining asset & equity prices as markets come to terms w/ persistent inflation and take steps to avoid an increasing wage-price spiral.
Wage-price spiral is serious risk as labor market is not healthy, the low unemployment is driven by long-term declining birthrates and aging population... the "Great Resignation" consisting primarily of 18-24 year olds is feeding the lower wage pressures as competition for scarce resource increases.
Massive double top setting up for major correction greater than -20% in early May due to broader economic headwinds.
Inflation reporting for March comes in CPI 4/11 & PPI 4/12. Federal Reserve FOMC meeting in early May prior to April inflation numbers published.
Monthly consecutive declines in home sales with major miss in durable goods, while bond yields begin inversion and prices continue sharply rising.
Risk off environment will increasingly gain steam with rapidly declining asset & equity prices as markets come to terms w/ persistent inflation and take steps to avoid an increasing wage-price spiral.
Wage-price spiral is serious risk as labor market is not healthy, the low unemployment is driven by long-term declining birthrates and aging population... the "Great Resignation" consisting primarily of 18-24 year olds is feeding the lower wage pressures as competition for scarce resource increases.
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