8.2 Early Morning Bitcoin and Ethereum Analysis
Tonight, the non-farm payroll data has significantly revised expectations downward, combined with the previous two months of 'violent corrections' in non-farm data, leading to a rapid increase in market expectations for economic slowdown and early interest rate cuts. US Treasury yields continue to decline, providing short-term liquidity benefits for risk assets.
From a technical perspective, all indicators on the weekly and daily charts remain in a bearish trend; the daily chart has recorded four consecutive bearish candles, with both high and low points moving downwards, and the 120,000 level has formed strong resistance in the short term; on the 4-hour chart, the MACD shows a death cross divergence, with a clear bearish arrangement; the RSI has entered the oversold zone, and the price is near previous low support, making a bounce from the oversold condition likely to start at any time.
The worst positions in sentiment are often where opportunities begin to brew.
Operational Suggestions:
Bitcoin: Watch for a pullback to 114,000 in the evening; below that, if it stabilizes at 113,250, go long with a target of 116,000-117,000, and if broken, look for 118,800.
Ethereum: Enter long at 3,575 and 3,530, with targets of 3,665 and 3,730; swing targets at 3,815 and 3,870.
