Market Analysis 4.29

Good morning, brothers. A new week has begun.

Last week, we experienced the release of GDP and PCE data.

The data fell sharply, then rebounded.

ETH and the ecosystem sector performed relatively well.

As suggested last night, on-chain data showed that

(1) about 2,000 BTC flowed into exchanges.

(2) A large amount of on-chain stablecoins flowed out.

So the current bottom-fishing funds are not strong. It is recommended to wait and see, and not chase high.

This week's strategy is to hold a portion of the spot and lie flat.

Wait for the opportunity to bottom-fish or the market to turn around.

Wait for two major events.

(1) On May 2, the Federal Reserve will hold a monetary policy meeting, and Powell will speak after the meeting.

(2) On May 3, the super heavy non-farm data will be released.

Before Powell's speech and the data release,

because of market panic, there is a high probability of a decline.

Whether the currency circle can reverse the downward trend depends on the non-farm data released on May 3!

If the negative is higher than expected, we still need to defend 60,000. If the positive is lower than expected, we will challenge the previous high. If there is a big drop before the data is released, we will buy some positions at the bottom. Because this impact is asymmetric, the profit and loss ratio is appropriate. #BTC #ETH $BTC $ETH