Summary of Powell's Speech, Long Positions Over the Weekend! Thoughts for the Evening of 3.30

Federal Reserve Chair Powell stated on Monday that despite ongoing energy shocks, long-term inflation expectations still appear stable, and the Fed does not need to decide how to respond to the latest developments yet. He said at Harvard University, “Inflation expectations beyond the short term still seem solid.” Regarding energy shocks related to the Iran conflict, he mentioned, “We are not yet sure of their specific impact on the economy, but given that inflation remains above the 2% target in the long run, we will closely monitor their influence on price pressures.”

Currently, the labor market is weak, with slow employment growth, and the Fed faces a contradiction between its two main goals: “The labor market faces downside risks, which suggests keeping interest rates low, but inflation risks are upward, which may mean that maintaining low rates is not advisable.” When discussing recent disagreements among policymakers, Powell said he welcomes open discussion. He stated, “In such a historically challenging period, trying to reach consensus might actually be misleading.”

At the same time, Powell also said that the Federal Reserve has no intention of opposing any government or politician; it is simply doing its job! Anyway, his speech is dovish, emphasizing that there are currently no response measures, only plans based on actual conditions. Therefore, before any positive news from US-Iran negotiations, it’s still possible to try shorting positions! The long ETH over the weekend has already taken profit, while Bitcoin is a bit behind—those who followed can move stop-losses to lock in gains! Those who missed the entry can try shorting near the intraday high!

Thoughts for the evening of 3.30:

Attempt short positions on Bitcoin at 678-680, with a stop around 688, targeting 670-665-660. Continue to move stop-losses to protect profits based on breakouts!

Attempt short positions on ETH at 2070-2080, with a stop above 2100, targeting 2030-2000-1970. Continue to move stop-losses to protect profits based on breakouts!#Gate金手指