#ETH
《Trend Changes — Current Market Analysis》
After a flurry of activity, the market has returned to calm. At 8:30, the ADP data was released favorably, leading to a quick drop before rebounding. This taught a lesson to those who went long due to the positive data, leaving a long shadow below.
After this fluctuation, Bitcoin has returned to its starting point, back to a consolidation trend. The downward support is around 104000, and resistance is near 106400. The main focus is on slight fluctuations, and as long as it remains within this range, there won't be significant volatility.
Ethereum, boosted by favorable news, is performing stronger than Bitcoin. After breaking through the resistance around 2680, it has started to pull back. The downward support still focuses on the position near 2580, which is a key level determining the trend of altcoins. If this level is breached, the pattern will change, and many altcoins will need to reduce their positions to avoid risks in advance.
At 8:30 tonight, unemployment data will be released, and history may repeat itself. Tomorrow night at 8:30, there will also be data on the unemployment rate and non-farm payrolls. These two days require special attention to the trends of Bitcoin and Ethereum. Once the trend changes, strategies need to be adjusted promptly. Currently, it seems that watching more and acting less is a better approach.