MASSIVEweek for markets this week. On the Agenda we have:
Today – Manufacturing data – Likely to show we are in serious contraction
Tuesday – Housing data – Likely to show further cracks in housing
Tuesday – More manufacturing data likely to show we are again in contraction
Tuesday – GOOGLE and Microsoft ER’s
Wednesday – META ER’s
Wednesday – Macro data + FOMC – This biggie for the week
Thursday – AMAZON and APPLE ER’s
Thursday – GDP and Jobs data
Friday – Consumer spending data
So all the markets traditional and crypto are on standby. In my opinion this week is vital of what’s to come for the next few months and the narrative of bottoming or not.So let’s wait and see.
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html
BTC owes one retest on 29K range this can only happen if the rates goes under 0.75% anything more will give us 16K in my opinion we will 1% increase and they will announce a recession for second consecutive quarter.