Market Analysis 5.31
Good morning, brothers. BTC tried to break through $69,500 last night but was blocked.
This position is an iron ceiling, and a large number of locked-in shares have accumulated above it.
There are locked-in shares from March to April this year, and there are locked-in shares from 21 years.
After experiencing the panic of the plunge, it finally rose back, and the locked-in shares must be released.
As long as it reaches this position, it will be easily smashed down.
The key to the market depends on the PCE data released at 8:30 tonight.
Expected 2.8%, higher than expected negative negative plunge,
lower than expected positive positive surge.
Every time the data is released, it falls before and rises after the release.
Will this pattern repeat today?
From the on-chain data, the BTC flowing into the exchange increased last night,
stablecoins remained stable, and there was no sign of bottom-fishing inflows.
Looking at the data tonight, we will increase our positions if it is good.
The bad depends on whether it is a big bad or a small bad.
If it is much higher than expected, it is a big bad, and we will reduce our positions significantly.
A big event happened yesterday.
Trump was found guilty of 34 felony charges, becoming the first former president in US history to be convicted.
The judge will sentence him to prison or probation on July 11.
This will reduce the possibility of Trump winning the election!
Brothers who bought MAGA and TRUMP should sell their coins first.
You can consider buying Biden's coins.
Recommended value coins: AR, FTM, CHR, ChZ, ETH
