PCE data will be out on the 28th and I'm more bearish than bullish on btc Bitcoin
Why ? 🧵
1. Yesterday the United States initial Jobless claims dropped from the previous of 226k to 214k which is far from the forecast which was around 230k. And this is a green light for the Feds to keep tightening and this is bearish for the high risk assets.
2. Also from the CPI data we all know that inflation is still very hot. And note that for the Feds the PCE ( Personal Consumption Expenditures ) data is more important than the CPI. So the outcome of the PCE will affect the market.
3. And that's not all a couple of days after the PCE data release we're gonna have the FOMC meeting, which is going to be the decision on the interest rates. And this is gonna be huge
Although the outcome of these news events may vary, it'll be good to position yourself for both a bullish or bearish move. With proper risk and money management.
Pls note, "THIS IS NFA" This is just me sharing my opinion about the current market structure fundamentally. So DYOR.This post is based on this twitter thread.