UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
FxWirePro- Major Crypto levels and bias summary 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
2025 Market Outlook: Key January Events to Watch 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Wall Street Analysts Weigh in on Latest NFP Data 
FxWirePro- Major Crypto levels and bias summary 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
BTCUSD lost its shine on weak market sentiment. It hit a low of $53091 at the time of writing and is currently trading at around $54235.
The increasing US unemployment data and weak US ISM manufacturing have increased the recession fears.
According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep increased to 81.50% from 11.50% a week ago.
US markets -
NASDAQ (negative correlation with BTC) - Bullish (neutral for BTC). The NASDAQ lost its shine on recession fears. Any close below 17800 will take the index to 17000.
Technicals-
BTCUSD trades below the short-term moving average (21 and 55 EMA) and the long-term moving average (200 EMA) in the 4-hour chart.
Minor support- $51800. Any break below will take it to the next level at $50000/$46000.
Bull case-
Primary supply zone -$57000. Any break above confirms a bullish continuation. A jump to $60000/$63000/$65000/$70000 is possible.
Secondary barrier- $70000. A close above that barrier targets $750000/$80000.
It is good to buy on dips around $51800-900 with SL around $48000 for TP of $63000/$67000.
