Tonight is the Non-Farm Payrolls. If you’re new, look here. I used to not understand it either.
First, the logic—otherwise tonight’s data will just look like entertainment:
Strong employment data = the economy is overheating = the government dares to raise rates = bearish for BTC
Weak employment data = the economy cools down = there’s no reason to keep hiking = bullish for BTC
Got it? Then keep looking.
$60,722
Last night, the ADP was 98,000.
And in person, Waller said the inflation risks have already declined.
This is the first crack we’ve seen from the Fed chair in terms of the rate-hike stance.
If tonight’s Non-Farm Payrolls confirm that employment is cooling,
the probability of a rate hike in September will drop rapidly from 76%—
which will be the biggest market event of the week.
BTC is now at $60.7K,
with a 1.2% intraday trading range.
Upward, $61.3K is the resistance it just tested last night.
Downward, $58.2K is this week’s low.
Now let’s talk technicals. At this price, you’re right at the edge of the 4-hour pressure line where bulls and bears are dueling.
From the 15-minute and 1-hour charts, the upside pressure is around 60,800.
The downside support is around 58,000.
Expect more sideways consolidation in that range.
If you’re trading trends, you’re afraid of chop; if you’re trading chop, you’re afraid of trends.
Technical analysis is for reference.
Before the Non-Farm results come out,
which side will you stand with?
#非农数据
$SOL
$BTC
First, the logic—otherwise tonight’s data will just look like entertainment:
Strong employment data = the economy is overheating = the government dares to raise rates = bearish for BTC
Weak employment data = the economy cools down = there’s no reason to keep hiking = bullish for BTC
Got it? Then keep looking.
$60,722
Last night, the ADP was 98,000.
And in person, Waller said the inflation risks have already declined.
This is the first crack we’ve seen from the Fed chair in terms of the rate-hike stance.
If tonight’s Non-Farm Payrolls confirm that employment is cooling,
the probability of a rate hike in September will drop rapidly from 76%—
which will be the biggest market event of the week.
BTC is now at $60.7K,
with a 1.2% intraday trading range.
Upward, $61.3K is the resistance it just tested last night.
Downward, $58.2K is this week’s low.
Now let’s talk technicals. At this price, you’re right at the edge of the 4-hour pressure line where bulls and bears are dueling.
From the 15-minute and 1-hour charts, the upside pressure is around 60,800.
The downside support is around 58,000.
Expect more sideways consolidation in that range.
If you’re trading trends, you’re afraid of chop; if you’re trading chop, you’re afraid of trends.
Technical analysis is for reference.
Before the Non-Farm results come out,
which side will you stand with?
#非农数据
$SOL
$BTC