Tonight the PCE is coming, will the market take off or crash? Be clear and don’t mess around!
Brothers, the PCE data will be released at 8:30 PM tonight, this is a key inflation indicator that the Federal Reserve is closely monitoring, basically influencing the interest rate hike expectations for the dollar, and will directly impact the crypto market.
If the PCE data is better than expected, inflation pressure will ease, and the Federal Reserve will have the confidence to loosen up, the market will be bullish, both Ethereum and Bitcoin can take the opportunity to surge.
But if the data explodes, and inflation continues to soar, then the market will worry about interest rate hikes, and once liquidity tightens, the market will first experience a crash before anything else.
So tonight is crucial, don’t blindly place orders betting on the direction, wait to see how the PCE data moves, then make right-side confirmation trades.
Let me summarize the thoughts for everyone:
If the data is good, Ethereum stabilizing at 2466 will look towards 2500 and 2547.
As long as Bitcoin doesn’t break the smaller trend, there’s a chance for it to continue rebounding.
If the data is bad, if Ethereum breaks below 2420 with volume, be cautious and look towards 2380 or even lower.
If Bitcoin breaks down as well, just short it directly in the short term and be done with it.
Also, tonight there’s a high chance of a spike in the market, don’t blindly chase after one K-line, wait for 5-10 minutes for stabilization and confirmation before entering, otherwise, it will leave you bewildered.
Finally, remember, when the market is calm, it’s the time to position yourself, and when the market is at its peak, it’s the time to take profits.
Tonight's PCE is giving you an opportunity, don’t miss it for nothing!