I would not #ignore this.
There are rumblings that the
#ISM data being released tomorrow is going to come in above 50, with some estimates even over 51.
If that happens, it is very significant.
Here we have:
-
#Bitcoin -
#copper #gold -
#ism #PMI
For those who are unaware, the ISM reading is essentially whether the economy is in contraction or expansion based on manufacturing. A reading of under 50 is contraction, and over 50 is expansion.
You can see here very clearly, every single time since Bitcoins inception, when ISM has pushed back towards the 52 level after being in contraction(under 50), it has marked that:
1. The Bottom is in for COPPER/GOLD
2. Bitcoin has begun its true expansion phase
You will notice that the PMI reading has been in by far its longest contraction ever, and this is a key piece of data that explains why this bull cycle has been so different.
It is the first time ever that Bitcoin has made new highs whilst the PMI has been in contraction.
It explains why this bull cycle has been so weak because the foundational state of the economy/liquidity has not been there to support it.
Its not a coincidence, by any means.
In addition, this is all happening as GOLD has very likely finished its mega run, meaning COPPER/GOLD is very likely bottomed, with COPPER pushing, in line with high manufacturing and development business happening...
Contributing towards the increasing PMI.
Just as Bitcoin is approaching its invalidation levels for HTF structure break, and almost everyone has now succumb to a year long bear market.
All of this is linked together and telling us the same story.
If PMI comes in close to 52 tomorrow, I expect this to be a market shock and begin the reversal phase throughout Feb.
This is data that truly matters.
$BTC $XAU