Tonight 8:30 PM: US August PCE release!
Mainstream market expectations: headline PCE year-over-year at 3.7% and month-over-month at 0.3%; core PCE year-over-year at 3.3% and month-over-month at 0.3%, unchanged from July.
Bitcoin is likely to continue weak, range-bound trading between $82,500–$85,000, while ETH is hovering in the $2,600–$2,750 range. Along the upper and lower edges of the range, high-sell and low-buy is the way to go!
Open futures contracts in the market have not been significantly reduced yet, and market sentiment is becoming more cautious.
In the short term, price action is likely to be choppy and slightly bearish, but the long-term uptrend for bulls is still intact. There should still be opportunities to test again a bit later in the 92,000–95,000 USD range. But it’s probably about that!
I still expect Bitcoin to have a second dip toward the end of October!
Mainstream market expectations: headline PCE year-over-year at 3.7% and month-over-month at 0.3%; core PCE year-over-year at 3.3% and month-over-month at 0.3%, unchanged from July.
Bitcoin is likely to continue weak, range-bound trading between $82,500–$85,000, while ETH is hovering in the $2,600–$2,750 range. Along the upper and lower edges of the range, high-sell and low-buy is the way to go!
Open futures contracts in the market have not been significantly reduced yet, and market sentiment is becoming more cautious.
In the short term, price action is likely to be choppy and slightly bearish, but the long-term uptrend for bulls is still intact. There should still be opportunities to test again a bit later in the 92,000–95,000 USD range. But it’s probably about that!
I still expect Bitcoin to have a second dip toward the end of October!