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August’s nonfarm payrolls data offered some relief to traders as the economy added 315,000 jobs for the month, well below the 526,000 in July. It was the lowest monthly gain since April 2021, increasing hopes that the data leaves some scope for the Federal Reserve to soften its aggressive tightening policy. The CME FedWatch Tool showed a 60% probability of a 75 basis points rate hike for the September 21 meeting, down from 75% on August 29.

The Dow Jones Industrial Average initially rallied by 370 points following the jobs report but it later trimmed its gains and closed down by 337.98 points. The Nasdaq
Composite extended its losing streak to six consecutive days for the first time since 2019.

Bitcoin has been trading inside a tight range between $19,500 and $20,715 for the past few days. The failure to push the price back above $20,715 indicates that bears are trying to flip this level into resistance.

The downsloping 20-day exponential moving average (EMA) and the relative strength index (RSI) in the negative territory indicate advantage to sellers.

If bears sink the price below $19,500, the selling could intensify and the BTC/USD pair could drop to the next support zone between $18,600 and $17,567.45. The bulls are expected to defend this zone aggressively because a failure to do so could signal the resumption of the downtrend. The pair could then slide to $16,764.

Contrary to this assumption, if the price turns up from the current level and breaks above $20,715, it will suggest that bulls are back in the game. That could push
the price to the 50-day simple moving average (SMA). This level may again act as a resistance but if bulls overcome this barrier, the pair could rally to $24,666.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

Featuring in this weeks Edition:

- Gauss

- Manilla Finance

- indu4.0

- Age of Zalmoxis

- Globiance

- Medabots

- WeedoVerse

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Manilla Finance to Support Pure Crypto Payments, Prepares to Make a Huge Leap into the Web 3 Space

Rise of the GameFi economy

Globiance: GBEX Staking goes live

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