😎 Waiting for Jackson Hole
Globally, the market is still in uncertainty: Ethereum seems to be forming a potential reversal structure, but today Powell is speaking at Jackson Hole, and his words will set the tone for the upcoming Fed meeting.
🧐This will most likely be Powell’s last appearance at this event, and we might see a special performance from him. Historically, Jackson Hole week has always been marked by sell-offs and volatility, which is exactly what we’ve been seeing this week.
Maybe the crypto market has already priced in all the negative scenarios of his speech, but no one really knows — and there have been plenty of cases where Powell managed to push the market down in just a few minutes.
🔸So, be careful with high leverage today — or better yet, stay out for now. And if you’re already in positions, don’t forget about your stop-loss or TP, because the market could swing both ways.
An example of how the market behaved before and after Jackson Hole:
On the day of the symposium or the next day, growth is most often observed, but after a few days, there is usually a dump downward.
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