BITCOIN 62K BATTLE and FED policy rate.
This first week of May 2024 is crucial to define BTC 62K support level BATTLE.
Considerations:
Point 1)
U.S BUREAU OF LABOR Report CALENDAR:
Wednesday, May 01 08:30 am -> Metro Area Employment/Unemployment for March
Thursday May 02 8:30am -> Productive and Costs for First Quarter
Friday, May 03 8:30am -> Employment Situation for April.
if numbers are good will benefit Stocks and BTC.
Point 2)
DXY now at this moment in 105.73 but shows strong support at 105.521 and it seems to retest this level again which will be good for BTC on it's 62K battle
Point 3)
Once US economy are base on Credit Growth and it has been slowing sharply, FED most concern about it and take action now before it's late, even if inflation continue above the 2% target.
FED will be forced to cut the interest rate if he want the US economy continue grow. Once interest rate get cut It will stimulate the economy growth, ant it will benefit stocks and BTC and others economy sectors. In short terms via rumors and later with news
I believe it will be the way FED will act.
Considerations:
Point 1)
U.S BUREAU OF LABOR Report CALENDAR:
Wednesday, May 01 08:30 am -> Metro Area Employment/Unemployment for March
Thursday May 02 8:30am -> Productive and Costs for First Quarter
Friday, May 03 8:30am -> Employment Situation for April.
if numbers are good will benefit Stocks and BTC.
Point 2)
DXY now at this moment in 105.73 but shows strong support at 105.521 and it seems to retest this level again which will be good for BTC on it's 62K battle
Point 3)
Once US economy are base on Credit Growth and it has been slowing sharply, FED most concern about it and take action now before it's late, even if inflation continue above the 2% target.
FED will be forced to cut the interest rate if he want the US economy continue grow. Once interest rate get cut It will stimulate the economy growth, ant it will benefit stocks and BTC and others economy sectors. In short terms via rumors and later with news
I believe it will be the way FED will act.
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