The non-farm payroll data was clearly positive, but unexpectedly, the U.S. stock market plummeted, and suddenly there was negative GDP news! The U.S. first quarter GDP data has also come out, and it's negative...
Sigh, now we can only hope that the PCE can bring some good news to offset the bad news; otherwise, on May 1st, we have the weekly initial unemployment claims data, the U.S. April ISM manufacturing PMI data, and on May 2nd, the unemployment rate and non-farm payroll data will be released! It is very likely that there will be a continuous decline for 2-3 days! For friends who are heavily invested, those with high leverage should be extra cautious! Make sure to set stop-loss and take-profit levels!
For Bitcoin, watch around 90,000 to 89,000, for Ethereum 1685 to around 1650.
Overall, it shouldn’t drop too deeply at the moment; a pullback might happen, but it will continue to move upwards. The real big drop is likely to happen around May 19th, before the interest rate cut in June, for a deeper washout.
The above is only my personal opinion and for reference only! It should not be used as a basis for investment trading! Everyone should weigh their decisions!
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