May 30 Midday Insights
1. Bitcoin, expected range 107000-103000, anticipated trend is a rise followed by a pullback leading to a V-shaped reversal;
2. Ethereum, expected range 2680-2520, anticipated trend is a rise followed by a pullback leading to a V-shaped reversal;
3. Friday 20:30 US April Core PCE Price Index Year-on-Year (Important), 22:00 US May One-Year Inflation Expectations Final Value (Important)
【Market Analysis】
① News Atmosphere: The US International Trade Court ruled that Trump overstepped his authority in imposing tariffs, requiring the revocation of all tariff orders, but Trump is appealing the court's decision. As a result, US stocks opened high but closed lower last night, interrupting the market's optimistic atmosphere; however, since the direction of the tariff issue is leaning towards negotiation/reduction, it is expected not to trigger further declines.
② The PCE Price Index at 20:30 tonight is expected to be bearish, and the inflation expectations at 22:00 are also expected to be bearish. The release of these two data points may lead to a sell-off in Bitcoin and Ethereum; however, support from spot buying is expected to limit the decline, possibly triggering institutional buybacks that could lead to a V-shaped reversal;
③ Today, Bitcoin and Ethereum are expected to rebound during the day, then sell off when the data is released at night, followed by a potential V-shaped reversal. The sell-off presents an opportunity to enter long positions.
【Strategy】
Mainly short during the day, but if a significant drop occurs at night, consider buying the dip.
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