Overview of BTC.
News background
✔️Industrial and consumer inflation in the US is decreasing according to the latest data. PMI has risen. The FOMC report did not say anything new. We expect PCE tomorrow. Today is GDP.
✔️The US Supreme Court ruled that Trump's tariffs are illegal. The administration has filed an appeal. It is still not over. Plus, remember that in July, if it can be proven that the tariffs are legal, the deadlines for the pause in their introduction for the EU and China expire. It will be interesting.
✔️Conflicts. So far, they are sluggish.
✔️The rate will most likely remain at the current level. This is not very good for crypto. At least nothing in the documents and expectations suggests that it will be lowered, but we are waiting for news.
Technical.
1️⃣118,200. The target for a super movement if everything goes well. The target came out as the fifth classical wave.
2️⃣114,500. A slightly more likely option. Bitcoin could still break out when exiting the flat.
3️⃣ Flat. The most likely option for today. Moreover, it will gradually be pulled towards correction. Do not pay too much attention to the view of line 3 on the graph - it can vary. Only the boundaries are clear: a range of 106 - 112k with possible spikes up and down. The most likely option until Monday, June 2.
News background
✔️Industrial and consumer inflation in the US is decreasing according to the latest data. PMI has risen. The FOMC report did not say anything new. We expect PCE tomorrow. Today is GDP.
✔️The US Supreme Court ruled that Trump's tariffs are illegal. The administration has filed an appeal. It is still not over. Plus, remember that in July, if it can be proven that the tariffs are legal, the deadlines for the pause in their introduction for the EU and China expire. It will be interesting.
✔️Conflicts. So far, they are sluggish.
✔️The rate will most likely remain at the current level. This is not very good for crypto. At least nothing in the documents and expectations suggests that it will be lowered, but we are waiting for news.
Technical.
1️⃣118,200. The target for a super movement if everything goes well. The target came out as the fifth classical wave.
2️⃣114,500. A slightly more likely option. Bitcoin could still break out when exiting the flat.
3️⃣ Flat. The most likely option for today. Moreover, it will gradually be pulled towards correction. Do not pay too much attention to the view of line 3 on the graph - it can vary. Only the boundaries are clear: a range of 106 - 112k with possible spikes up and down. The most likely option until Monday, June 2.