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Master Chen 3.18: The Fed will not ease up until June. Is the slow bull trap coming?

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Followin' the news, it seems that the Japanese central bank is likely to raise interest rates again in May or June, which could lead to a significant drop in BTC, possibly around 15-17k. The market may react negatively to this, as seen in the past when Japan raised rates, with Ethereum plunging over 1200 points in a single day. The author suggests that investors should be cautious during this period and avoid rushing into the market, as it could lead to further losses. The recent short-term uptrend is seen as a "fake rebound," providing an opportunity for contract players to short the market at higher levels. The author believes that the long positions are struggling to survive in the current market conditions, and a significant drop may occur if Japan raises rates again in May. However, the author also suggests that a deep correction could stimulate capital flows, and if the US Federal Reserve cuts rates again, BTC could potentially reach 107k and potentially set a new high. The author's trading strategy involves shorting the market at the resistance levels of 84,800-86,000, with a target of 83,700-82,300. The author has a history of successfully implementing this strategy during previous market cycles.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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