Market Update
Market Update:
Daily timeframe of dollar:
1)If btc break above $106.1 and move up to $106.5
2)If btc break below $105.7 and drop down to $105.4
Daily Timefram of Equities :
1)If equities break above $5515 and move up towards $5530
2)If equities break below $5488 and drop down to $5470
Daily timeframe of bitcoin:
1)If btc break above $62.2k and move up towards $63k or higher
2)If btc break below $60.7k and drop down to $60k or lower
Daily timeframe of eth:
1)If eth break above $3450 and move up towards $3500
- If eth break below $3420 and drop down to $3359
The PCE and Core PCE figures came in lower than expected, indicating a positive trend as inflation is decreasing, which should boost consumer and investor confidence. However, a notable concern is the muted reaction from both equities and the crypto market, which is quite puzzling.
The US session is about to start, and I'm hoping to see a bullish response to the PCE news at the open. If we don't see this bullish reaction, it might confirm the news failure and suggest a continued decline. This could be attributed to the DXY's significant strength over the past few weeks, which is something to watch closely. A bullish reaction at the open would likely sustain momentum through the end of the session.
Today's session appears to be tricky. While my bias remains bullish unless proven otherwise, the lack of reaction to today's news warrants a cautious approach to the charts in the near term.
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