Market Analysis on May 2nd
1. News
1. Pay attention to two sets of 5-star data at 8:30 PM: April unemployment rate and April non-farm payrolls (less than or equal to expectations is positive; otherwise, it is negative). Currently, the ADP employment data released on Wednesday may not be very friendly.
2. The tariff situation continues to evolve, along with concerns about the recession in the US economy, and the interest rate meeting at 2 AM on the 8th of this month, which is bound to bring significant volatility in early May.
3. The US stock market rebounded strongly, with a V-shaped recovery in the market trend. Currently, the market has bounced back above 5500; subsequent attention should be paid to the pullback situation.
2. Market Analysis
1. BTC current price is 96800. After breaking through 95500, it adjusted around 97000. From the moving average indicators, it remains in a bullish trend in the medium term, and there has been considerable capital chasing the rise in the last 24 hours, with a positive long-short ratio. However, the RSI indicator shows that it has entered the overbought zone, so we need to pay attention to whether there will be a divergence. Technically, looking from the left side, there is still an expectation of a potential reversal downwards, with the recent futures gap around 91000 not yet filled. Caution should be maintained; if it breaks below 95000 with weak rebounds, one can add to short positions on the right side or directly enter short positions, targeting 91000. Pay attention to the evolution of intraday trends and patiently wait for opportunities. Short-term resistance is at 97500-98000, support is at 95500-95000.
2. ETH current price is 1940. The overall trend is linked to the market, with a peak price of 1872, but the rebound is significantly weaker than BTC. Currently, it has fallen back to 1850, which is a sign of weakness. The daily MA60 moving average needs confirmation; if it cannot recover above 1850 within the day, pay attention to the opportunity to test around 1750. Resistance is at 1950, support at 1750.
