so here's the thing Bitcoin is indeed forming its golden cross pattern but it's also running into key resistance at the weekly EMA ribbon please do not overlook this key levels because the Bears will not give up this raid particularly between 23 and around 26 000 very easy but if the Bulls can push through it it may take time then the grass gets greener on the other side of the move could be explosive

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oh man Bulls be aware we've just received a shocking jobs report which missed to the upside the jobs Market is much hotter than expected Jerome Powell will now have pressure from various people to continue his rate hiking what is going on what does this mean yesterday we had terrible earnings for the likes of Apple Google Amazon Ford Starbucks what is going on markets are falling you're seeing the traditional markets here the pre-market NASDAQ down two percent the s p down over a percent of the Dow Jones down 0.6 of a percent look at crypto markets here guys we've got Bitcoin falling point six we're gonna analyze the key levels plus what is going on don't forget Smash Up likes don't forget subscribe guys feeling like a long time ago now when it was just a day or so ago that we covered the fomc press conference and Jerome Powell came out surprisingly dovish right the markets were really happy really excited you spoke about how the disinflation missionary process is starting he looked positive he reduced the rate car to a 25 base boy rate I can the markets were feeling quite positively at the NASDAQ running up three percent on that day but now you've got a bunch of earnings on Thursday which I said to be wary about and now the non-farm payroll two key pieces of data which I say guys do not sleep on these piece of data remember the jobs Market is in Focus right now CPI is being you know deemed as if it's under control markets have kind of ignored that and this year they're focusing on the labor figures and this non-farm payroll figure was a huge shocker guys I want to put this into perspective we were expecting a read of 187 000 in January for the non-farm payrolls it was 223 000 in December guess what it came in at 517 guys 517. let's take a look at this five that means this look at that graph we were coming down this whole period and now you've got a reading which is nearly a skyscraper like the one in July so the label Market is still super hot we saw the Jones figure Miss as well and these two combined the Jones figure which is the job openings plus the non-farm payrolls indicates that this labor market is not budging Jerome power wants that employment to rise slightly right because that's going to help bring that last bit of inflation down but if job demand is still high that means workers can demand more wages and that can keep this inflation quite stubborn so this is a worry I don't want you guys to think oh you know we've had an amazing time and we're going to carry on with our balloons and really excited that the bull Market's coming no this is a serious reality check okay because yes we've seen progress on CPI but if we do not from the labor side then there's a little bit of an issue we look at our risk board what did I say the risk is the risk is that this last piece of inflation is really stubborn and doesn't want to move this risk remains on the table okay so this should hopefully put into perspective for people that earnings were slightly weaker from major companies and also the non-farm payrolls coming in for quick story so the other day I got a message from one of my team members and it turned out he got caught up in a phishing attack yes these fishing attacks are getting more and more sophisticated whereby the attackers are able to pretend they are a senior person in a company and request payment from somebody else on top of that I got another email from one of our it guys who said I need to change all my passwords because they've been leaked on the dark web this is a complete pain and that is why today I'm proud to partner with aura auras an easy to use app which gives you everything you need to stay safe online Aura protects you from scammers and hackers by scanning the dark web where criminals sell stolen information looking for your emails your passwords and your Social Security numbers it then alerts you fast if it finds anything Aura also gives you new real-time alerts on suspicious credit inquiries 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definitely head over to my link ijaz.uk forward slash Aura to take advantage of that and let's get straight back into here at the Bitcoin chart and let's try to get some basis of where we're at so if we want to bring out our EMA Ripper now excuse the messy chart but we've got to take a look at it like this and we can see here that we are extended from our EMA ribbon very extended so for me I'm very comfortable to see a pullback to 22 000 I've been saying that for a while we've not created any scaffolding on this move to the upside ever since we broke our EMA ribbon which is all the way the way these levels of seventeen thousand right we rose with testing our daily EMA ribbons are more than comfortable to see a pullback here in fact that will present opportunities for me to be buying the dip around these levels and I'll be happy to see a healthy pullback a solid Bounce from 22 and then move onwards here with Bitcoin on the daily chart but here's the way it gets a little bit scarier what have I been screaming all along this is a bear Market rally running into key resistance on the weekly EMA ribbon and we're starting to see that play out we've started this week in negative territory here on bitcoin if the Bears turn up at this level and send us back down this could be quite painful because we have to respect the greater Trend and the greater trend is owned by the best okay so we have to keep this in mind we have to understand that if they show up at this level and we're unable to clear this level and own our weekly MMA ribbon we could be violently sent back down in this kind of a direction which is not what we want that is the last thing that we want right now here on crypto let's take a look at some other cryptos which include obviously Phantom which has been an absolute 10 that's been holding it up pretty well as you can see they're heading in for a weekly close above its EMA ribbon now you've got to be careful when all coins close at weekly EMA ribbon above above their weekly email ribbon but Bitcoin doesn't you've got to be careful because Bitcoin can easily fake you back down to the downside so you want to see Bitcoin follow suit before you get confident in some of your old coins you are starting to see some more coins like Phantom getting back above its weekly limit if we drop this down to the Daily qg extended right I am not chasing these green candles if you're trading on short time frames I'd be doing a couple of scout trades here and there five minute trades ten minute trades 15 military depending on what I'm seeing on the charts um by all means go ahead and do that for your long-term portfolio I would certainly not be chasing these green candles I'd be looking full retracements if we get them anytime soon right with this Market sentiment is more likely to provide it will we see I mean we're super overextended right if you look at the EMA ribbon it starts at 45 cents we'll be very lucky to see this come back but these are the kind of levels I'll be really wanting to buy the dip on here on Phantom as if we get these levels back at 40 cents other all coins are pretty much following suit here with Bitcoin you see Bitcoin down point seven percent now as I'm recording this video my take is slightly in the green today Solana is down Cadena is down Dogecoin flat Cosmos moving up three percent interestingly you've got Avalanche down a percent almost you've got algorand moving up four percent interesting people are starting to wake up a little bit to algorize so interesting time in the market guys I want you guys super focused on this because this could be a worry in fact let's take a quick refresh here to see if we've got any interesting data on the Fed rate monitor because has the market shifted no currently not they're not budging just yet they're still expecting 25 basis points at their next meeting in March they've not changed their mind let's see what they've changed in in may not they've not changed anything still half actually interesting half the market so this is what we're seeing now the majority of the market is expecting in March we're gonna get 25 base points that's what this percentage is here but then at the next meeting in May most of the market thought we were going to pause right one more 25 and then a pause in may now it's 50 50. now you've got 45 of the market there saying hang on we'll probably get another 25 base points okay so that's where we're sitting here in the market and this is something we have to monitor because to face it yes there's been a huge shift yes we're far better off than we were just a couple of months ago but this labor market is serious and the company earnings are sharing with us some insights to be a little bit concerned about so be very very careful out there do not go chasing green candles this is how you end up buying the peak of these bear Market rallies be patient if you didn't partake in this rally just sit back let things play out let's see what happens in the markets can we actually sustain this to flip the trend on the Bitcoin weekly and move into our next phase away from just a bear market right there you go guys shocking jobs report here on a Friday just when we thought we could have a bit of fun here over this weekend we get some horrible horrible myths and a hot labor market let me know your thoughts in the comments below don't forget to go watch this video here check out the TA course at jars.uk4 TA completely free ta course and I'll see you