Powell gave face, but the cryptocurrency market didn't give face at all, slapped Powell twice, slapped him in the face》
Good morning, family members. The on-chain data is bleak, and the cryptocurrency market has no intention to rise. Powell gave a speech last night, saying that inflation has made considerable progress, but he is still unwilling to let go of whether there will be a rate cut in September and when it will start!
▍2 aspects to look at yesterday's speech
① Powell's speech was positive, gold rose, and the US dollar index DXY fell. It should have risen, but BTC fell in the opposite direction
② There was not much inflow of ETF funds yesterday. In terms of on-chain data, although BTC has not continued to flow into exchanges in large quantities, it is worrying that stablecoins show the dynamics of flowing out of exchanges
➬ Therefore, although we are optimistic about the rebound in the general direction, we must also prevent the last drop, which is why we remind everyone not to chase the rise
▍Other potential data release
✅
This Friday at 20:30, the non-agricultural data will be released. The last time the non-agricultural data exceeded the standard, it hurt the currency circle very badly. This time it should be normal
Although it seems to be under great pressure, don’t sell at the bottom, otherwise when the extreme rebounds, the mentality will be out of control and blame others. The current position does not exceed 50%, and you can continue to buy the bottom when there is a big drop
😇
Inflation will always fall, and Mentougou will always be solved.
Don’t fall tomorrow, you can win the day after tomorrow
