🔥🔥🔥August 2nd Morning Analysis!!!
This week's market focus is on non-farm payroll data, with a noticeable increase in risk aversion.
Powell stated on Wednesday that there are issues with U.S. employment data, and he will closely monitor the situation and may take action. July's non-farm payrolls added only 73,000, far below expectations, significantly increasing the likelihood of a rate cut in September.
In addition, Trump expressed dissatisfaction with the data and dismissed the director of the Census Bureau. After the resignation of Fed official Kular, Trump made strong remarks, even suggesting the possibility of replacing Powell, causing further fluctuations in market sentiment.
At the same time, Trump ordered the deployment of two nuclear submarines to deter Russia, increasing geopolitical risks, leading to a decline in the dollar index and a surge in gold to around 3360. Bitcoin and Ethereum subsequently weakened.
Technical Analysis:
Bitcoin:
After filling the futures gap of 114025-115716 yesterday, a rebound is expected in the short term;
Key resistance level above: 115000, if it can't hold, it may still decline;
Support level below: 110700, if it holds, consider going long;
MACD momentum is weakening, with short-term fluctuations.
Strategy Suggestions:
Long Position: Enter at 113100, stop loss at 112700, target 115000-115700;
Short Position: Enter at 115000, stop loss at 115500, target 108000-111700.
Ethereum:
Failed to rebound upwards, structure is weakening;
3400 has been breached, structure damaged, watch the key range of 3525-3595;
If it continues to decline, it may test the 3000 area;
MACD death cross, momentum bars increasing, short-term still leaning bearish.
Strategy Suggestions:
Long Position: Enter at 3450, stop loss at 3435, target 3500-3580;
Short Position: Enter at 3560, stop loss at 3583, target 3313-3525 for staggered profit-taking.
