Market outlook prediction for the coming week:

A week is approaching with intensive catalysts from the news. Although gold is currently experiencing a short-term overbought correction, the long-term upward trend remains unchanged, so there is no need to worry about the determination of institutions and central banks to continue buying. The disturbance from short-term profit-taking will only go to places with the least resistance and the most vitality. The Canadian dollar is one target market. In the future, there will be three major events that will impact the market.

1. The US CPI will be released on Friday, and it is highly likely that it will continue to grow year-on-year, which is bearish for cryptocurrencies. Therefore, it will temporarily suppress the coin prices, and funds will not rashly enter the market at this time.

2. The Federal Reserve will announce the results of the October interest rate meeting early in the morning on the 29th, and the market generally expects a rate cut, which should be positive for cryptocurrencies. However, since the market is almost certain that there will be a rate cut, expectations are fully priced in, which may lead to a black swan event. In other words, there is still a chance that there will not be a rate cut, and the likelihood could be quite high. Therefore, some institutions will inevitably open short positions at high prices to hedge against short-term losses in the spot market. So at this stage, it is not advisable to chase high prices; instead, it is a better choice to open short positions at key resistance levels.

3. Will there be a ceasefire agreement between Russia and Ukraine? My judgment is no. In the past few days, the stock market related concepts have been rising chaotically, and eventually, they will all fall, trapping a group of impulsive investors. In other words, the recent drop in gold is merely a washing out and consolidation; the fighting will continue and will not end so easily.

If the market drops ahead of the interest rate meeting on the 29th, then if there is no rate hike in October, when the bearish factors are exhausted, it will be the time for the market to rise. At that time, short positions should be closed, and spot and long positions should be entered in a timely manner. #ETH ##BTC #十月降息预测