Brothers, I'm done........
Before entering the gym last night, I was waiting for the ETH hourly candle to finish, and as expected, ... Ethereum was strong and surged upwards. Indeed, the crypto market is different; it doesn't play by the usual rules!
Let's review yesterday's non-farm payroll data.
At 8:30, the data came out, and employment and other aspects were higher than market expectations, which led the market to respond with an upward surge, reaching the 2600 mark before gradually moving up!
Regarding BTC, there was a rebound yesterday, touching 105,000 USD at one point, close to the 20-day moving average. From the analysis of volume-price relationship,
the trading volume on the rebound day was relatively low, indicating weak buying power; furthermore, the possibility of BTC breaking above the 20-day moving average and continuing upwards is relatively low. Under the pressure of the 20-day moving average, the likelihood of a subsequent price drop is quite high.
Disclaimer: The content of this article is for information sharing only and does not constitute investment advice. The cryptocurrency market is highly risky and volatile; investment decisions should be made cautiously.
