Good afternoon everyone~ Last night the big pancake hit around 85000 again. This month has basically been a case of falling whenever there is resistance, with no change in rhythm. Yesterday, I originally planned to short near 90500, but the market didn't even touch that position. Recently, I've been missing points by just a bit, which is a bit of a pity.

Today's structure is very clear: the bears are still dominant, and there will be a weak short-term recovery, but don’t expect much strength—the core idea remains 'short after a rebound.'

The resistance levels are: 86500/87000/87500, with a hard resistance at 88100-89000;

The support level to watch first is 85500. If it breaks below 84700, it will likely test 81000. In extreme cases, it may touch the large cycle support area of 76000-74000 before the end of the month.

Currently, there are no clear bottoming signals from the indicators (TD, MACD, SKDJ), so don't guess the bottom recklessly.

Important reminder: Non-farm payroll data will be released tonight at 21:30, so make sure to prepare your risk control in advance!

Here’s a breakdown of the data's impact on BTC:

- Non-farm new jobs < 50,000 → Bullish

Non-farm new jobs > 50,000 → Bearish

- Unemployment rate > 4.4% → Bullish

Unemployment rate < 4.4% → Bearish

If the two data directions are consistent, the signal will be clearer; if one is bullish and the other bearish, expect a period of volatility before determining the direction after the U.S. stock market opens.

#加密市场观察 $BTC