Will the Crypto Market Come Back? - RICH TV LIVE

Will the Crypto Market Come Back? - RICH TV LIVE - July 7th, 2022 - News Analysis of financial markets for July 6th & 7th #richtv #business #news #finance #education #trade #money #shorting #learn #invest #win #july #july2022 #trading #investing #FOMC #JOLTS #PMI #oil #BTC #ETH #bitcoin #ethereum #stock #stocks #crypto

Rich TV Daily News for July 6th:
Recession fears continue to linger.

Stock open lower, but the market actually turned green.

According to Fed FOMC minutes, Fed sees ‘more restrictive’ policy as likely if inflation fails to come down.

U.S. ISM Services PMI Falls to 55.3 in June from 55.9. The estimate was 54.3.

U.S. JOLTS job openings fell to 11.254 million in May from 11.681 million, which was estimated 11 million. So that was a good number.

Brent crude oil falls below $100 for the first time since April 25th.

Bitcoin has been ranging in a bearish pennant since the 18th of June and is very close to deciding whether the break will be to the upside or whether there will be a continuation to the downside. Jim Cramer did come out and say that he believes it could be time for crypto. BTC staying around the lower 20K mark. So there isn't a clear trade till it breaks out of that pennant.

Ethereum has made a move to the mid 1100 range. It would be good to keep an eye on it for that resistance level of below 1200. And then if you're looking for a short trade, then you might want a short trade, which can present itself over 1200 because it seems to be selling off in that region. If you're patient, you could wait for the low 1000 mark, and then look to take a trade back to the mid-1100 range for a short buy.

Rich TV News to look out for on July 7th:

Ivey PMI numbers coming out. It's a leading indicator of economic health. Businesses react quickly to market conditions and their purchasing managers hold, perhaps the most current and relevant insight into the company's view of the economy.

Unemployment numbers coming out in the U.S. keep a close eye on that. That's going to have a huge effect on the market.

FOMC member James Bullard speaks. And FOMC member Waller speaks. Bullard will be more of a medium impact. Waller has a lower impact when he speaks.

Always remember to do your own due diligence. Do your own research, before you invest in anything we talk about or discuss here on Rich TV, and always do and make sure you make the best trade.

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