I don't think the next move may be to raise interest rates, it is more likely to maintain the policy rate at the current level - Powell's views last night
Obviously, he said it in vain. You say he is hawkish, but it is not; you say he is dovish, and he is still very stubborn. Let's call him soft hawk. This soft hawk is a negative for the currency circle, but since it is a soft hawk, it is like a soft persimmon and does not constitute any substantial negative. It is a very useless smell, very unpleasant, but it will always be blown away by the wind over time. This year, the fire luck began. After humans entered the fire luck, AI intelligence and big data computing became the first year of dematerialization. As the underlying asset of digital assets, Bitcoin will inevitably have a very eye-catching performance this year with the support of the fourth round of production cuts.
Then this month we have seen Bitcoin has been adjusting in the range of 63,000 US dollars to 61,000 US dollars. From the figure below, we have seen that Bitcoin has entered the end of the convergent triangle. We have seen the same structure in the market at the end of February. Also affected by the 200-day moving average at the 4h level, Bitcoin was suppressed to a very narrow range. We know from childhood that where there is oppression there is resistance. Bitcoin, which is bound in a corner, actually contains huge momentum for the fourth production reduction bull market, both in terms of the major benefits of production reduction and in terms of long-term structure. Therefore, according to the K-line Journey to the West strategy, the fourth production reduction bull market will soon continue after the change. Remember, this process will be very fast. Once it breaks through the narrow convergence range of shocks, it will be unstoppable. As the saying goes, accumulation leads to sudden development. Whether or not to raise interest rates is only a short-term impact. The historical process of mankind is not changed because of micro-adjustments.
The ALT mentioned yesterday is currently close to the intersection of the daily structure convergence triangle. You must know that according to the K-line Journey to the West strategy, this is an area that is very easy to initiate a change. The falling convergence triangle is prone to rebound, and this rebound is likely to eventually form a reversal in the bull market. Yesterday's article mentioned that ALT had multiple benefits throughout April and May:
On April 12, two AVS driven by AltLayer were launched on the Eigenlayer mainnet
On April 25, ALTlAYER obtained the highest operator authorization of EigenLayer
On May 2, reALT launched the re-staking ALT platform, and the current annualized interest rate is close to 14%
The price continues to fall, and the chips are concentrated near the intersection of the falling convergence triangle. Multiple positive factors appear in a concentrated manner. Does it feel a bit like being pushed into a corner, but given a lot of tonics? It is almost a high probability that it is ready to go. You must know that Bitcoin is currently in the ionized state of the physical world at the time of the fourth round of production cuts. From solid, liquid, gas to ionized state. Although the development of matter is becoming more and more unstable, more opportunities will occur in the ionized state of Bitcoin. As an ALT that has just been launched on Binance for only 5 months, the divergence between the price and the entity in this round of market is holding back more possibilities.