#Gate广场四月发帖挑战 PCE and CPI data higher than expected, will Bitcoin crash on Black Friday?
Recent market movements closely follow the turbulence in the Middle East. With the US-Iran ceasefire agreement in place, last night Iran started causing trouble again. Tonight's blockbuster report will feature: March PCE and CPI data release. The March CPI is expected at 3.4%, higher than February's 2.4%. Core CPI for March is expected at 2.7%, up from February's 2.5%. Due to the US-Iran Z dispute and energy fluctuations impacting the economy, the higher-than-expected data led to rate cuts and cooling measures, boosting US bond yields, which pressure the stock and crypto markets, facing downside risks.
BTC is currently in a clear upward trend, but trading volume is extremely thin, creating a divergence between price and volume. The continuation of the rally is uncertain and may be a trap for late buyers. Focus on shorting from high levels, watch for a pullback to support at 71,500-70,400. Breaking below 70,400 would ruin the bullish pattern, so consider light positions around this level.
Short around 7240-7280, with a stop at 7370, target 7150-7040. If broken, look further down to 6920.
ETH short around 2234-2256, with a stop at 2298, target 2160, and if broken, down to 2110.
Short-term trading should be flexible, with stops based on your own position and risk management!
Recent market movements closely follow the turbulence in the Middle East. With the US-Iran ceasefire agreement in place, last night Iran started causing trouble again. Tonight's blockbuster report will feature: March PCE and CPI data release. The March CPI is expected at 3.4%, higher than February's 2.4%. Core CPI for March is expected at 2.7%, up from February's 2.5%. Due to the US-Iran Z dispute and energy fluctuations impacting the economy, the higher-than-expected data led to rate cuts and cooling measures, boosting US bond yields, which pressure the stock and crypto markets, facing downside risks.
BTC is currently in a clear upward trend, but trading volume is extremely thin, creating a divergence between price and volume. The continuation of the rally is uncertain and may be a trap for late buyers. Focus on shorting from high levels, watch for a pullback to support at 71,500-70,400. Breaking below 70,400 would ruin the bullish pattern, so consider light positions around this level.
Short around 7240-7280, with a stop at 7370, target 7150-7040. If broken, look further down to 6920.
ETH short around 2234-2256, with a stop at 2298, target 2160, and if broken, down to 2110.
Short-term trading should be flexible, with stops based on your own position and risk management!
