Good morning everyone,
Last night after hitting the resistance point that you G reported, the market slightly decreased in excitement, but nothing has changed yet. We're still enjoying a break in the support zone 😁 If there's any change, you G will report it.
💥 Yesterday, there was only good news:
- The BLS announced that the U.S. unemployment rate remains at 4.2%. In fact, the non-farm payrolls increased compared to expectations.
- The Chinese authorities mentioned they would "consider" the negotiations, so small investors and small businesses are also feeling more optimistic. However, in reality, as you G has analyzed very thoroughly about the U.S.-China trade war, China is just trying to maintain face for domestic consumption, but in reality, the situation is quite dire and they are struggling silently. China has always adhered to mercantilism, with weak domestic consumption, relying on exports, so being blocked by the U.S. is like shutting down their consumption, with inventory piling up because other countries fear their cheap goods flooding in, hence imposing very high anti-dumping taxes. Large companies like Apple have already shifted operations to Vietnam, India, and Mexico, but China is deliberately making it difficult to retain them, so it just takes a little longer 😆
💥 For those who are new to following, if you want to understand the root cause, please read the article I attached and scroll down to read other parts about macro analysis as well.
Understanding macroeconomics, geopolitics, and thoroughly researching crypto will give you a solid foundation for understanding short-term, medium-term, and long-term market fluctuations, avoiding most risks. Listening to everyone's hype and FOMO will lead to losses in confusion, asking "why is it like this? It should be this/that, right?" This is understandable when lacking fundamentals, just like when we were in school and lost our basics, everything seems vague.
💥 Let's diligently create a "foundation," everyone!