This week's most noteworthy crypto summit ended in a farce, with Trump effectively shooting himself in the foot. Not only did many institutions suffer losses, but even Trump's own coin saw a decline. This was an unknown and reckless operation; overall, positive developments led to a bearish outcome.
Powell's speech touched on two points: the Federal Reserve is not in a hurry to adjust interest rates, and this time the impact of tariffs is different. What's important is the long-term inflation expectations. Overall, Ruize believes these are still bearish factors suppressing the market.
Too many opportunities; I don't know how many you've grasped.
To put it simply, from the current market situation, the daily chart shows a large bearish candlestick with an upper shadow indicating pressure from the mid-line downward. After the daily close, the price continues to decline. As we approach the weekend, Ruize feels that the market is slowing down; in the short term, it will likely enter a period of fluctuation. If the bulls do not continue to push back, the market will likely continue to decline as Ruize has previously indicated.
From a short-term 4-hour perspective, a double top has formed with significant pressure at the upper high points gradually diminishing. The current position of the B-frame is at the lower Bollinger Band, showing a sideways fluctuation. One can say that the trend is showing a weak rhythm. As Ruize mentioned before, the short-term consolidation is still a preparation for a further decline in the future. After the positive non-farm data yesterday, market expectations for a rate cut have reached 75 basis points, and the fact that there will be no rate cut in May will also create considerable panic across the market. In the long term, Ruize suggests maintaining a bearish outlook at high positions.
In the upcoming week, we will focus on shorting around the rebound high points:
From a personal perspective, I suggest shorting in the 90000-92000 range, targeting 80000-73000. Ethereum can follow along, focusing on the 1500 area.
If you want to know more, you can join me for more real-time market updates.
If you want to catch this bull market, it's definitely too late to learn on the fly; it's best to have someone guide you quickly.
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