Well, I was not posting for a very long time on #BinanceSquareTalks because I was busy trading forex, but today I just want to enlighten some of you regarding the next possible move of BTC & GOLD.

First and foremost, we need to check the last two months of Non-Farm Payroll (NFP) data released by the Bureau of Labor Statistics (BLS), which indicates the number of employed individuals in the US economy. The #Nonfarmpayroll for March was 185,000, and April was 177,000, which was significantly lower than the previous month.

NOTE: High NFP denotes a strong USD, and low NFP denotes weak USD.

The NFP for May is expected to be lower than the previous month (according to public Sources), and it denotes a weak USD and lower possible interest rates.

So, here is what could happen in the upcoming few months with $BTC or other top crypto pairs like $BNB , $ETH etc. Due to the fear of a weakening USD, the forex/crypto market pairs associated with the USD were dumped by institutions. Now, BTC will face #FOMO because influencers and other so-called crypto traders will tell you to buy this sharp dip at 101k, but in reality, they are paid by institutions to spread FOMO so that those institutions can exit and get a possible lower entry, leaving retail traders in blunder.

What to do now?

Wait for BTC to reach around the 94-98k level and time an entry where there are "choppy Bollinger Bands" on 1D timeframe, because that is where BTC will be accumulated and ready for the next leg up to 120k. You can short gold in Forex and long BTC between the 94-98k level at the same time. Just take a low-leverage entry and try to put a stop-loss around the 92k zone and a take-profit of 118k-124k.

Meanwhile, gold will likely reach the 3500-3600 level due to possible USD weakening, after which it might sharply drop to the $3000 zone & even $2800 zone .

Like 👍 Comment ✍️ and Share 💫 for more such content.

NOTE: This is not financial advice; trade as per your risk appetite. #BTCPrediction #MarketPullback