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Next week, the financial markets will usher in a fierce competition like a "fairy fight". On Monday, April 28, Canada will hold a federal election, and the outcome of this political event may trigger a ripple effect in the market. On Wednesday, April 30, the market will focus on the annual rate of the core PCE price index in March, which is an inflation indicator that the Federal Reserve focuses on, and its performance will directly affect the direction of the monetary policy of the beautiful country. At the same time, the World Gold Council will release its Q1 Gold Demand Trends report, revealing the supply and demand dynamics of the gold market. On Thursday, May 1, the number of initial jobless claims for the week in the United States and the ISM manufacturing PMI for April hit hard, with the former reflecting the immediate state of the job market and the latter being a key indicator of the health of the manufacturing sector. On the same day, the Bank of Japan will also announce its interest rate decision and economic outlook, and the adjustment of monetary policy may trigger sharp fluctuations in the foreign exchange market. On May 2 (Friday), the unemployment rate in April and the seasonally adjusted non-farm payrolls in April will be the finale, as the economic data that the market is most concerned about, they will become the key factors affecting market sentiment, and whether the market can further surge higher will also depend on the performance of these data. Towards the end of the month, the scope of market sentiment affected by major events has narrowed, and market liquidity is naturally lower on weekends than on weekdays, which is already the norm for the market. It is worth noting that the overall performance of U.S. stocks last Friday was acceptable, which was buried for the trend of U.S. stocks after the opening of next week.
As the week draws to a close, so does the week. The following is a review of this week's market and analysis of the market outlook. Bitcoin gradually stabilized after retracement to the 83900 line at the beginning of the week, and then started an upward trend and continued to regain lost ground. After a two-day rally, Bitcoin encountered strong resistance below 95,000 and entered a period of consolidation under pressure. After a period of consolidation, Bitcoin once again stabilized and rose again, and managed to break through new recent highs at the end of the week, rising as high as 95748. Judging from the performance of the whole week, Bitcoin showed a clear bullish trend, with a cumulative increase of more than 10,000 points, and the market fluctuated violently. In terms of operation strategy, we have responded flexibly this week, and the long and short ideas have effectively matched the current market, and the gains are considerable. From a large-level technical analysis, Bitcoin is still in the stage of gathering momentum. In the early stage, a large number of profits have been accumulated, and it is normal for short-term contraction shocks. In the small cycle, although Bitcoin rose in the morning, it failed to continue to break high, and the retracement market followed. The current market rhythm is dominated by shocks, waiting for the substantial amplification of trading volume, but the price recovery is relatively slow, the form is slightly blunt, and it is expected that the shock pattern will remain in the future.
Looking at Ethereum, its trend is similar to Bitcoin, also experiencing a rebound from the bottom, but the price performance is relatively weak and has not yet recovered the 2000 mark. In market fluctuations, Ethereum follows Bitcoin's steps when it falls, but struggles to sync when it rises, showing obvious signs of stagnation. During the weekend, market activity is low, and trading volume is sluggish, failing to fully reflect the actual supply and demand situation. Currently, Ethereum is in a right-side oscillation adjustment phase. Although the rebound trend has not ended, in order to further rise, it needs to first build momentum downwards and solidify the foundation for an upward move. Today's intraday K-line pattern shows that the lower shadow is significantly longer than the upper shadow, indicating that bearish forces are nearing exhaustion and bullish momentum is gradually being released. Based on this, today's operational suggestion is to set up long positions after the price dips.