$BTC
Moody's has finally taken action, cutting the U.S. credit rating from AAA to Aa1. This is the first time in U.S. history that there has been a "full downgrade" among the three major rating agencies.
This week, the market outlook is bearish in the medium term, with a sharp rebound in the short term.
The reason for the sharp upward rebound in the short term, which often exceeds previous highs, is that the manipulative traders are trying to push prices up to unload their positions, conveniently triggering your short stop losses.
Every time there is a rebound, you can see it either on the edge of a breakout or engaging in plundering, making it hard to find a structure to get on board during the rebound.
Too much debt, too large a deficit, and too slow reforms. U.S. stock futures are down across the board, U.S. Treasury yields are soaring, and gold prices are jumping. Additionally, this week there will be a lot of Fed officials speaking, and the Fed has bought over 40 billion in U.S. Treasuries. This week is destined to be tumultuous.
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