6.7 Bitcoin and Ethereum Market Analysis
In the early morning, Hangqin stabilized around 1045000/2480.
Last night's non-farm data was initially considered bad news (bearish), but after recalculating and removing the inflated figures from February and March, it turned into good news (bullish). The unemployment rate also stabilized at 4.2%, giving the Federal Reserve more time to delay interest rate cuts. Everyone knows the Federal Reserve likes to manipulate data and has been on the sidelines, waiting. It's like treating everyone as if they were Japanese.
Currently, from a technical indicator perspective, in the next two days, liquidity will be poor over the weekend, and the main players are unlikely to take significant action, primarily maintaining a volatile trend until Sunday evening to Monday when the U.S. stock market opens, which may lead to larger fluctuations.
The daily candlestick shows a bullish body with a lower shadow, MA7 has crossed MA30 and is beginning to flatten out from an upward trend, the MACD's bearish bars are continuously weakening, and the trading volume has decreased by one-third compared to the previous day. If it can stabilize above 105000/2500 within two days, there is further room for price increases. If it cannot hold, there may be further volatility and decline over the weekend; first, we need to observe the strength of the pullback, paying attention to the level of 103500/2430.
Short-term resistance at 106500/2550, support at 101500/2350. Today's strategy should mainly involve buying low and selling high.
