The current market is still event-driven in its rise and fall relationship
Important data this week may have a direct impact
4/28 Monday:
Canada holds federal elections
4/29 Tuesday 4/30 Wednesday:
U.S. Q1 GDP data
U.S. March Core PCE Price Index Year-on-Year (22:00)
World Gold Council releases Q1 "Gold Demand Trends" report
5/1 Thursday:
U.S. Weekly Initial Jobless Claims (20:30)
U.S. April ISM Manufacturing PMI (22:00)
Bank of Japan announces interest rate decision and economic outlook
5/2 Friday:
U.S. April Unemployment Rate (20:30)
U.S. April Seasonally Adjusted Non-Farm Payrolls (20:30)
The weekend did not see another surge during Asian hours as expected, and the market's fatigue is becoming more apparent. There are also more variables in this week’s games. This week features earnings reports from key tech stocks, as well as MSTR's earnings report, and at the end of the month, the U.S. Q1 GDP data. Once this data is released, the long-short game in the U.S. stock market will become more evident. Will it follow a recession path, or can it take a loosening path? The GDP may very well accelerate the Fed's choices.
This week could be more critical. Even at a 0.4% GDP growth rate, it would be the lowest point in the last three years.
In terms of market prices, BTC is currently in the range of 94,000-95,000, with resistance above at 96,500-97,500 and support below at 93,000-92,000. Essentially, it is waiting for new sentiment to maintain a fluctuating directional choice. At this time, it is advisable to reduce positions if there are some profits. Holding on means gambling on the upcoming market sentiment to continue improving. This is a personal choice, as it is not a reversal at the moment. The rebound trend is prone to rollercoaster fluctuations, so just avoid heavy positions. If you are willing to gamble on the sentiment continuing to improve, then hold on. In situations where you see profits, you can consider taking some profit off the table.
Additionally, many observation projects have surged, and everyone should avoid these types of projects. These projects are just trying to take the last wave before being delisted. Do you think the dealer's knife is faster, or is your hand speed quicker? I believe this statement can give you enough judgment to see the rise of these observation projects.
