Now let's review the issues Powell faced during the live broadcast regarding the internet and glasses!
First of all, Powell indeed confirmed what I said, being dovish, stating that the fluctuations in inflation and employment meet the conditions for interest rate cuts. The probability of a rate cut in September soared back to over 90%, and U.S. stocks, BTC, and ETH all rose.
However, he also mentioned the need to be cautious about a rebound in inflation and pay attention to a cooling job market, and he said the economy has recession risks similar to 2008, dispelling expectations of a soft landing.
Regarding interest rate cuts, we should now pay attention to the possibility of "selling the expectation" which may lag behind, after all, the drop earlier this week has absorbed the bubble. Additionally, we need to distinguish whether it’s a defensive rate cut or a "belt-tightening" rate cut after a recession!
Regarding Ethereum, it has already broken through its historical high. The target for the bull market remains at 5000, but there has been a recent demand for a pullback. The aggressive can consider a light short position at the current price targeting around 4640.
The market never lacks opportunities; what it lacks are people who dare to seize those opportunities.
If you feel confused about the market and don’t know how to layout the next steps,
feel free to chat with me
