The economic data has come out and it seems that the market hated it (once again).

Despite the ADP coming in below expectations, signaling a slowdown in the labor market, the service data (PMI and ISM) showed an economy that is still resilient and heated.

This reduces the probability of cuts by Powell (FED), and reinforces the scenario that was already feared: that we will not have any more cuts until Powell's mediocre exit.

The stock market also fell along with the #BTC and crypto in general. Gold also continued to decline.

The market's adjustment of expectations has again brought the price back close to the lowest point in the last drop. As I mentioned earlier today, the daily close is not the most necessary; the next 4 hours will already serve to give us a good idea if this lowest point at $72.9K will hold.

In May of this year, we will have a new President at the FED who will certainly work for rate cuts, and something significant, so... Powell's days here are already numbered.

We are becoming extremely oversold even on the weekly chart; there is no way the bottom is much further away.