IF the data comes out better than predicted (approximate error of 0.1%-0.3%), the probability of a market "comeback" (return*) is multiplied. Also in this situation volatility will slow down to/under 21:30 i.e. under Powell's speech to hear the "magic words" that if such dynamics continue, his thoughts about a POSSIBLE rate cut from the Fed in the fall will be confirmed and it will be a move to 73800 over time without a doubt for me (74200+), although I always doubt, so there is a share of skepticism - this is what separates me from a "fool" who is ALWAYS sure of everything!
❌ Negative scenario:
IF the data comes out worse, the market will react negatively in the moment, maybe even just locally, but everyone will wait for 21:30 to hear Powell's words and in this case the launch of the seasonal unloading may intensify and last about a month +/- (with the right to go even to 58700+/-).
This also includes the positive from inflation, but for some reason Powell will make sad fables at 21:30 and then everything will be leveled and the market will hang in turbulence and uncertainty until the end of the second quarter when the main conclusions will be made, because it is the quarterly analysis of inflation that Powell takes in his calculations.
⚠️ Important Areas:
✅ Support: 67000, 66400, 66000, 65350, 64300 (strong), 63600, 62800, 62000, 58700, 57200 (strongest).
❌ Resistance: 68500, 68900, 69800, 71000, 72000, 74200, 74800, 76500, 77800, 80800.
#EarnFreeCrypto2024 #MarketSentimentToday #news #bitcoin #Traiding
