A few hours ago, Powell made a speech, and even that couldn't help the bears.
Honestly, I anticipated some negativity from this speech. How could one expect positivity when oil prices are skyrocketing due to geopolitical upheavals? This will undoubtedly counteract all of the Federal Reserve's efforts and only fuel inflation. I was expecting hints of a rate hike and a stubborn rhetoric about the 2% inflation target.
However, he sent entirely different signals, which subsequently reduced the predictions for a rate hike. The dollar also began to weaken, which had a positive impact on the crypto market.
Thus, from a fundamental perspective, I currently don't see anything that could support the bears, so I continue to anticipate a move towards 31,500.
