$BTC
Two Trend Directions
Currently, the price has been stuck at $103,600 without breaking down
and has not formed a clear upward or downward trend.
After the non-farm data, it could either surge all the way up to around $108,000, pulling those who are short with leverage into a frenzy.
On the downside, we can look to around $101,000.
In the current market, the trap set by the bears is larger.
There are a lot of sell orders they have placed, and capital is flowing towards shorting, just waiting for the price to drop significantly for a big profit.
The operational thinking is still present.
If the price subsequently retraces downwards again, even if it reaches the liquidation zone below, if the bulls are not significantly liquidated, the bearish force is not strong.
That would mean the market is likely to reverse upwards, and at that time, the price will likely push towards the liquidation price of $108,000.
Conversely, if the price surges upwards and the bears are not liquidated, then the price may likely drop afterwards.
Every time it gets to the non-farm data, it is very nerve-wracking, we can only wait patiently for the market to truly have a clear direction!
Tonight at 20:30, pay attention to the unemployment claims data.
Tomorrow at 20:30, focus on non-farm data/unemployment rate.
Stay tuned to Hashini for timely updates on direction.