#BTC is currently grinding back and forth around the support area. The U.S. stock market is also mildly oscillating near the support area, and I feel that a breakout or reversal could be coming soon.
Right now, the market is mainly waiting for Friday’s CPI. The Fed chair keeps talking about hiking rates every day, but when it comes time to speak, there’s always uncertainty. I feel he still doesn’t really want to raise rates.
After all, if rates are raised again, the pressure on U.S. government debt would become even bigger.
At present, BTC, Ethereum, and U.S. stocks are all still above the support levels—especially Nasdaq index futures, where the MACD fast and slow lines on the daily chart have been grinding near the zero line for a long time.
So for the bigger trend, I still lean bullish. For the short term, it mainly depends on when the selling can stop and the downside can end.
As long as BTC holds above 76500, the bulls remain strong; and if Ethereum holds above 2350, it’s still relatively strong.
Right now, the market is mainly waiting for Friday’s CPI. The Fed chair keeps talking about hiking rates every day, but when it comes time to speak, there’s always uncertainty. I feel he still doesn’t really want to raise rates.
After all, if rates are raised again, the pressure on U.S. government debt would become even bigger.
At present, BTC, Ethereum, and U.S. stocks are all still above the support levels—especially Nasdaq index futures, where the MACD fast and slow lines on the daily chart have been grinding near the zero line for a long time.
So for the bigger trend, I still lean bullish. For the short term, it mainly depends on when the selling can stop and the downside can end.
As long as BTC holds above 76500, the bulls remain strong; and if Ethereum holds above 2350, it’s still relatively strong.