My thoughts for the coming week. đ§ đ
Firstly note, today (27 May) is a bank holiday in the US and UK đŠđșđžđŹđ§ and the stock exchanges are closed. (Lower volume) đ
Early tomorrow, we have BOJ (Bank of Japan) Gov Ueda speaking đŁïžđŻđ”, though it won't have a huge impact on crypto short term đč. Japan is the world's 4th largest economy and a huge crypto market, so his policy moves are worth noting. đ
I personally think we will see a quiet start to the week for crypto with no major moves until Thursday or Friday đ when we get key economic news from the US đșđž. MOST importantly will be PCE on Friday. đïž (It could be a pretty boring week till then) đŽ
Should the ETH S-1 approvals happen this week, then that will shake things up a bit âïžđ„. For those who donât understand, S-1 approvals are needed so the ETFs can actually be traded. (These approvals could still take weeks) đâ
I think it is VERY UNLIKELY we see $BTC push to test new ATH in the coming week đđ«. (We will probably be within the $66.5-$70.5k region until late Thursday-Friday) đđ
I also think it is VERY possible we see tokens that have pumped in the last few days to have a correction in the coming few days đžđ ($ENA, $BB and so on). I am NOT saying sell, short, or close good entries but donât FOMO in long leverage at current prices. đ«đ€Šââïž
Mostly, I see sideways movement in major crypto (excluding ETH) for the coming days đâïž, but be aware of pump and dumps in the low circ supply projects đčđ„, especially those pumping because of ETH FOMO. đ
If you are a short-term trader, the most important thing is to recognize trends đ (The trend is your friend) and currently, we DONâT have one đđ« (we are still sideways mostly). Donât force yourself into bad entries đ, you have to be patient and find good entries, it's the only way you will succeed. đđĄ
Be Smart. đ€
Peace. âïž
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