Crypto friends, tonight the global market's attention will focus on one place, a "macro nuclear bomb" capable of determining the short-term life and death is about to detonate! The U.S. November non-farm payroll data will be released tonight, and with the technical aspect already showing signs of collapse, any data that exceeds expectations could trigger a brutal "bull-bear slaughter." Follow Zhao Gongming, who will guide you to layout in advance, ensuring the preservation of your principal amidst the storm.
News: Non-farm data will determine the fate, tonight will be the "day of judgment"
The U.S. November non-farm payroll data and unemployment rate to be released tonight will serve as a "barometer" for determining the future policy path of the Federal Reserve and even the sentiment of global risk assets.
Against the backdrop of the Federal Reserve's hesitant rate cuts and rising expectations of interest rate hikes from the Bank of Japan, a strong non-farm report will be interpreted by the market as a signal to 'delay rate cuts', potentially triggering a new wave of liquidity panic and sell-off. As a barometer of the crypto market, ETH is highly sensitive to such macro data, and the market has entered a 'calm before the storm'.
Technical analysis: A death cross has been established on the four-hour chart, with enhanced downward momentum.
The four-hour candlestick chart clearly depicts ETH's decline. The price rebound has been blocked below the resistance level of 3150, unable to challenge the strong resistance at 3260, and is overall in a clear downward channel.
The MACD indicator shows a death cross trend, with the white line below the 0 axis. More crucially, the red bars have turned green, significantly increasing the downward momentum, indicating that bearish forces are accelerating. The key psychological level below $3000 and the support at $2890 are facing severe tests. Once breached, it will open the path to $2760 and even lower regions.
Zhao Gongming's daily sharing; if it helps you, you can follow Zhao Gongming and enter the chat room for first-hand news and entry points!
Zhao Gongming's views and strategies:
Zhao Gongming is firmly bearish on the future of ETH. The technical indicators have weakened ahead of the major macro data release, which is a clear signal of market sentiment. If tonight's data is negative, it will become the last straw that breaks the bulls.
Holding position advice: It is recommended to use any rebound towards the 3080-3120 area before the data release to decisively reduce positions. Treat the 3000 integer level as the last line of defense; if it breaks on the four-hour chart, you must exit unconditionally.
Watching advice: Absolutely no bottom fishing before the data release! The real opportunity lies in waiting for the market's reaction to the data. If negative data leads to a price crash, patiently wait for the market sentiment to exhaust before observing the stabilization at the support areas of 2890 or even 2760, and then look for right-side trading opportunities.
In the face of the macro 'Judgment Day', any technical analysis may be rewritten in an instant. If you don't want to become a passive 'sheep' in tonight's data market, follow Zhao Gongming and enter the chat room for my instant interpretation of non-farm data and reminders of key ETH levels during trading! #ETH走势分析 #美联储降息
