Good morning everyone, I am your uncle.
Today is May 30, 2023. US President Biden told the media that he had reached a final agreement with Republican Speaker of the House of Representatives McCarthy on raising the federal government's debt ceiling and was submitting the agreement to both houses of Congress for a vote. Biden urged the Senate and the House to pass the agreement, adding that he expected McCarthy to get the votes needed to pass the agreement.
According to the Federal Reserve's tools, the probability of a 25 basis point rate hike in June is close to 60%, while the probability of a 25 basis point cumulative rate hike in July is 52.4%, and the probability of a 50 basis point rate hike is 22%, which also means that there will be at least a 25 basis point rate hike in June and July.
Due to the final agreement on the debt ceiling, Bitcoin successfully broke through 27,500, and began to fall after reaching around 28,500, and then fluctuated around 28,000. Currently, it has not effectively stood above 28,000. Before there is an obvious signal of incremental funds entering the market, it is difficult for Bitcoin to continue to rise. At present, market funds may be waiting for the votes of the two houses of Congress on Wednesday. It is highly likely that it will be directly passed. If it is really not passed, it will be unfavorable to the currency circle.
The 4-hour level is in a downward adjustment, the Bollinger Bands are moving upward, K is back in the Bollinger Bands, suppressed by the Bollinger upper rail 28200, MCAD is shrinking and moving downward, the hourly Bollinger Bands are in a convergence, supported by the Bollinger lower rail 27500, MCAD is moving downward in large volume, and the overall view is that the big cake has a short-term correction demand, and the operation can be mainly low-long. It is recommended to go long with a light position if it does not break 27500, and the stop loss is placed below 27200, with the target at 28000-28500. The market changes in a myriad of ways, and the specific operation is mainly based on real-time strategies.
