$BTC
A major drop is about to come
On May 8th, Powell is likely to make a hawkish statement!
Now the media is spreading that Powell is going to "hawk up,” and the market may start to decline ahead of time, possibly dropping on Tuesday or Wednesday, with significant declines on Thursday during the press conference.
Moreover, recent U.S. employment data has been relatively stable, with the unemployment rate and non-farm data not showing major issues.
After the last statement, U.S. stocks fell by 2%
This time, Bitcoin may drop by $2000-$3000, falling to around $93,000-$94,000, with a worst-case scenario of around $82,000-$86,000.
Currently, it seems likely that the Federal Reserve will announce interest rate cuts in September this year.
The probability of a rate cut in September is greater than in May and June.
Old Powell will not step down before September; gold will enter a consolidation range from May to September.
Cutting rates too quickly may not be a good thing, so a rate cut does not equal a rise! Because cutting rates too quickly can cause inflation issues.
Those interested can check out my previous posts.
Thoughts before Powell's speech on May 8th
If it stays stable around 94,700-95,000,
it may not drop further and start to rebound, a good entry point for buying.
Wait for it to rise above 97,000, then sell to short, operating back and forth in this range to capture profits from the fluctuations.
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