#BitcoinUpdate:

remains below its $61.7k #resistance with immediate support at $60.2k on the 4-hour chart. The market is indecisive, but this could shift today with #JeromePowell upcoming speech on the economic outlook.There's a significant liquidation level forming at $62k, which might be tested. If $BTC breaks through $61.7k and holds, it could quickly move towards $64k. Conversely, if support at $60.2k fails, the next critical level to watch is $59.6k.

#PowellSpeaks #MarketConditions

Fed Chair Powell Signals Confidence in Inflation Control, Hints at Rate Cuts
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Federal Reserve Chair Jerome Powell expressed confidence in the central bank’s progress in reducing inflation, suggesting that rate cuts may be on the horizon. Speaking at the Jackson Hole economic symposium, Powell emphasized the Fed’s commitment to achieving its 2% inflation target while maintaining a strong labor market.

At Jackson Hole, Jerome Powell highlighted the significant progress made in lowering inflation, which has fallen from a peak of 9.1% in mid-2022 to 2.9% last month. He insisted that the Fed’s restrictive monetary policy has been instrumental in balancing supply and demand, easing inflationary pressures, and ensuring that inflation expectations remain anchored. 

Powell hinted that policy changes were surely on the way when he said:

Despite this progress, Powell cautioned that future rate cuts will depend on evolving economic conditions and the ongoing assessment of risks. Looking back, Powell admitted that the Fed initially underestimated the persistence of inflation, which he says was exacerbated by pandemic-related supply chain disruptions and shifts in consumer demand.

#FED #FOMC #PowellSpeaks #PowellAtJacksonHole #Bitcoin $BTC $ETH $ETH

DOGS Price in Correction Phase

Current Status: The DOGS price briefly exceeded the 20-day EMA but is now in a correction phase after a recent surge. It ranks 12th in the cryptocurrency market by trading volume and has seen a 30% decline over the past week.

Technical Overview: The price recently dipped to $0.00100, forming small bullish candlesticks. Despite a 97.40% increase since its launch, DOGS has fallen 39.32% from its all-time high. The market capitalization stands at $547.11 million, with a 24-hour trading volume of $523.86 million.

Potential for Surge: DOGS has reached a crucial breakout level and could potentially surge by 40% in the short term if it maintains momentum. A successful breakout might lead the price to approach the previous swing high or even set a new all-time high.

4-H Timeframe Analysis: On a 4-hour chart, DOGS has broken out of a falling wedge pattern and exceeded the 20-day EMA, suggesting potential bullish momentum. If the price remains above the 20-day EMA and climbs to the 100-day EMA, it could attract more buyers and create a buying opportunity. Conversely, if the price falls below the 20-day EMA, it could signal a potential stop loss and deter buyers.

Correction Phase Status: On the daily timeframe, DOGS has shown weakness after reaching its all-time high, with a 37% correction phase. If the price surpasses the $0.00120 mark, it might attract buyers and perform positively. However, if it faces a negative pullback, the bearish trend could continue.

Forecast: The DOGS price is currently in a pivotal phase. It may experience a bullish breakout if it stays above key levels such as the 20-day EMA and $0.00120. Monitoring these levels will be crucial for understanding future price movements and potential new highs.#DOGSONBINANCE #USNonFarmPayrollReport #PowellSpeaks #BinanceBlockchainWeek #CryptoDecision

Summary of Fed Chair Jerome Powell's Speech:

- Economic growth is projected to decelerate this year, with a continued decline in inflation.
- Waiting for inflation to reach 2% could take too long.
- FOMC interest rate decisions will be data-driven at the time of the meeting.
- Three data points from the second quarter have bolstered confidence in declining inflation.
- Unanticipated labor market weakness will necessitate a response.
- No signals for future meetings are being given today.
- The Fed's decisions will be based on data, not policy.

#PowellSpeech #PowellSpeech #PowellSpeaks

🚨 Hold onto your hats, folks! Federal Reserve Chairman Jerome Powell's recent remarks are sending shockwaves through the financial world, and it's time to pay attention—even if the stock market is closed for Easter! 🐣

🦅 Powell's tone was undeniably hawkish, indicating that the Fed is far from considering rate cuts anytime soon. Here's a breakdown of his key statements:

🔍 "If our base case doesn't happen, we would hold rates where they are for longer."
🔍 "Can hold rates steady if inflation doesn't come down."
🔍 "Don't think rates will return to pre-pandemic levels."
🔍 "Economy not suffering from this level of rates."

💼 Translation: Don't hold your breath for a rate cut in June! Powell's words paint a picture of a Fed determined to maintain its current stance unless there are significant shifts in economic conditions. 📉

💡 So, what's the key takeaway? With Powell's hawkish stance and a strong reluctance to cut rates, it's time to reassess your strategies and buckle up for a potentially bumpy ride ahead in the financial markets. 🎢

📈 Stay informed, stay vigilant, and brace yourself for whatever twists and turns lie ahead in the economic landscape! 💼🚀 #PowellSpeaks #FinancialForecast 📊🦉Follow | Like ❤️ | Quote 🔄 | Comment