less on Nostr: BREAKING: Burner #2 turned off... a downside surprise. 👀 ISM Manufacturing PMI ...

BREAKING: Burner #2 turned off... a downside surprise. 👀

ISM Manufacturing PMI slides to 48.0 (vs 49.5 consensus and 49.0 prior month).

quoting
nevent1q…twpq

My Three Burners Theory of #bitcoin bull market price action.

Burner #1: Liquidity
Current setting: Medium

Burner #2: Economy
Current setting: Low (but starting to rise? ... watch ISM data)

Burner #3: Leverage
Current setting: Low

OPINION:
We won't see an exponential move (ie, a "blow-off top") until all three burners are on High.