Bitcoin Update‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️
- Bitcoin is trading near $60,000, up 2% for the week.
Market Focus
- Investors await Fed Chairman Jerome Powell's speech at the Jackson Hole symposium (Aug 22-24).
Expectations
- Concerns over a potential US recession may increase market volatility.
- Weak economic data expected to be published.
Possible Outcomes
- Powell may signal a path of interest rate cuts.
- Inflation is on track to meet the target 2%.
- Labor market is no longer overheating.
Key Price Levels
- $61,200 (strong price level for liquidity).
- $56,600 (strong price level for liquidity).
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