Pay attention to Powell's speech tonight! Just a reminder

At 10 PM tonight, Federal Reserve Chairman Powell will speak at the Jackson Hole annual meeting. This matter is currently being closely watched by the market, so we must be cautious.

Let me tell you about two possible scenarios: If Powell starts off hawkish, for example, hinting at delaying interest rate cuts, then BTC might plummet drastically, possibly dropping below 110,000. Just think about it, in the past, whenever he made tight comments, the prices of cryptocurrencies like Bitcoin would dive significantly, as historical data shows. However, if he softens his stance and turns dovish, for instance, clarifying the path for interest rate cuts, then risky assets like Bitcoin might rebound.

Long Brother suggests that in the face of this highly uncertain event of Powell's speech, the worst-case scenario is price fluctuations that lead to both long and short positions being liquidated, commonly known as 'stop hunting both sides'! It might be better to simply step back and observe; having cash on hand means there will always be opportunities. Waiting until the market situation is clear before making a decision is much safer.