Brothers, ETH is simply on a rocket this time! Yesterday, when the small non-farm data was released favorably, it skyrocketed over 100 points, and now it's touching 3250. Tonight, there will be unemployment data released. Will it continue to surge, or will it take a breather and pull back? Jin Chan will analyze the ups and downs for you today!
Let's first talk about the news that will make waves tonight:
Tonight, the unemployment data will be released. If this number is lower than expected (bullish), ETH is definitely going to surge; if the data exceeds expectations (bearish), then it's highly probable that it will pull back. This data is the switch for tonight's ups and downs!
Take a look at the market's condition.
The big trend in the 1-hour chart is clearly bullish with the MACD golden cross lying there, and buying volume is significantly higher than selling volume. But be cautious: the RSI is already overbought, which means the rise is too fast, and funds may not be able to hold on. It is currently stuck at the 3250 resistance level; if it breaks, it will directly rush to the 3350 strong resistance; if it can't push through, it will have to drop back to the key level of 3172 to gather strength before making another attempt.
The golden toad says:
Don't just look at the bullish trend and chase it madly! RSI overbought is a 'red light warning'. The volatility before the data comes out tonight is likely to surge first and then pull back; it might also dip and then rise again. Retail investors who chase the highs have a high probability of being thrown off the train.
Retail investors should act like this tonight:
For those holding ETH: if it breaks 3250, just watch for 3350;
For those who haven't entered: don't be foolish and chase the highs! Wait for a pullback to around 3172 and then enter with a light position;
Don't make random moves before the data comes out tonight; the volatility can make you dizzy!
If you don't know the specific entry and exit points, and for those holding positions, you can follow the golden toad. The golden toad will announce the daily cryptocurrencies and entry and exit points in the chat room 24/7!!!#ETH走势分析 $ETH
