Interpretation of cryptocurrency market on February 1, 2023
The market continues to oscillate, but the current impasse may be broken in the early hours of tomorrow morning. 3:00 Federal Reserve rate resolution and Powell's speech will most likely bring greater volatility.
For now, the inflation issue has been better handled. Both inflation expectations and the leading inflation indicators have seen a sustained decline. The U.S. M2 data also showed the first negative growth in history. Rate hikes and tapering have worked. At the same time, the U.S. economy has only slowed its growth rate and is not in recession. The employment data has also been vital.
The outlook for 2023 will be very positive for both U.S. stocks and the crypto market. In the long term, it is magnificent to expand your position, and it is also the most straightforward operation with the best chance of winning. In the short-term, the odds are that tonight will be a mix of long and short. The good comes from the expectation of the imminent end of interest rate hikes, and the negative comes from the expected management of the Federal Reserve. The market may be somewhat divided, and it isn't easy to judge the short-term direction. But one scenario is straightforward: if the market falls, it will be an excellent opportunity to expand long-term positions. The short-term can likewise be opened for more operations at the stronger current support levels. (BTC around 22000, ETH around 1500)
The bull market is about to start, and it is essential to ensure you are in the field. Long-term positions to ensure that you will not step short, short-term opportunistic open more to do the icing on the cake will be the correct way to operate this year.
For now, the inflation issue has been better handled. Both inflation expectations and the leading inflation indicators have seen a sustained decline. The U.S. M2 data also showed the first negative growth in history. Rate hikes and tapering have worked. At the same time, the U.S. economy has only slowed its growth rate and is not in recession. The employment data has also been vital.
The outlook for 2023 will be very positive for both U.S. stocks and the crypto market. In the long term, it is magnificent to expand your position, and it is also the most straightforward operation with the best chance of winning. In the short-term, the odds are that tonight will be a mix of long and short. The good comes from the expectation of the imminent end of interest rate hikes, and the negative comes from the expected management of the Federal Reserve. The market may be somewhat divided, and it isn't easy to judge the short-term direction. But one scenario is straightforward: if the market falls, it will be an excellent opportunity to expand long-term positions. The short-term can likewise be opened for more operations at the stronger current support levels. (BTC around 22000, ETH around 1500)
The bull market is about to start, and it is essential to ensure you are in the field. Long-term positions to ensure that you will not step short, short-term opportunistic open more to do the icing on the cake will be the correct way to operate this year.