12.17
Yesterday, the U.S. November employment data was released, showing a significant increase in the unemployment rate to 4.6%, higher than expected and the previous value.
The non-farm payroll increased by 64,000, exceeding the expected 50,000, while the employment figures for August and September were revised down, with the revised September non-farm payroll coming in at 108,000.
Detailed data shows that although employment numbers fluctuate, a marginal slowdown has already occurred, meaning the growth in employment has noticeably weakened.
BTC
This week there has been a lot of news, including Bitcoin currently experiencing ongoing fluctuations, but fortunately, the level of 84,700 that we mentioned has not been broken, and it has repeatedly tested the bottom here. This suggests that a significant market movement may be brewing at this level. The focus now should be on the daily level regarding the amplitude and slope of the fluctuations to the right. If the level of 84,700 continues to hold and the bottom gradually rises, we should pay attention to upward opportunities. From an intraday perspective, we need to closely monitor whether the small level can stabilize around 88,300. If it cannot stabilize, it may undergo a small-level pullback, with support at 86,400-84,700 and resistance at 88,300-89,300.
ETH
Ethereum is performing relatively weaker at this level, but the thought process is similar. We also need to pay attention to the daily level market, as we previously mentioned that the range of 2,600 to 2,800 is a strong short-term support for Ethereum. Currently, we need to watch whether the daily level of 2,830 can be broken. Even if it drops into the lower range, we should look for opportunities for a quick recovery. From a smaller intraday perspective, we need to monitor whether the level of 2,970 can stabilize. If it cannot stabilize, it will likely undergo a one-hour-level exit segment. After this exit segment, a small rebound will be triggered, with support at 2,895-2,820 and resistance at 2,972-3,028.
