$BTC Today (December 16) is Non-Farm Payroll day, let me explain the market clearly

Today the non-farm data is coming out, whether it’s gold or crude oil, the volatility risk is particularly high, let’s take it steady and not rush to act

Gold: Stuck at the position, waiting for Non-Farm Payroll to give the direction

Last night gold closed with a small upward candle with a long upper shadow, the previous short position at 4330 has been stopped out

The daily chart looks a bit contradictory, the Bollinger Bands and these indicators are still trending upward, but both Friday and Monday closed with long upper shadow candles, indicating that the resistance at 4350 is particularly strong. Today, the focus is on this position for Non-Farm Payroll. If it can break strongly above, then gold is likely to continue to rise and refresh the previous highs

In the short term, 4300 is a key position now. The hourly chart looks like it’s about to rise, but the four-hour chart is showing signals of a decline. However, there was a long lower shadow in the previous four-hour chart

During the day, the fluctuations are expected not to be too large; the real market is likely to wait for the evening U.S. Non-Farm Payroll data to come out

Crude Oil: Really too weak, wait a bit longer to bottom fish

Last night crude oil closed with a large bearish candle, no bottom fishing opportunities, just wait and see

The overall market is too poor, I previously wanted to stabilize around the middle track of the Bollinger Bands but failed, and then it has been falling continuously, closing with bearish candles. The indicators also show that it will continue to fall, coupled with the market’s belief that oil supply will exceed demand in 2026, and news that there might be progress in the Russia-Ukraine negotiations is pressing down oil prices. Now is really not the right time to bottom fish

The short term is also weak. Last week’s attempt to stabilize the downward momentum also didn’t succeed. The middle track of the Bollinger Bands hasn’t risen for a long time. If you want to bottom fish, at least wait until the market stabilizes around the middle track of the Bollinger Bands and there is a clear bottoming signal. Now is just a time to patiently wait #BinanceABCs