Non-farm data falls short of expectations, both US stocks and cryptocurrency prices plummet, medium-term short positions cash in! 8.2 Bitcoin strategy

Recently strong US economic data has led to consecutive new highs in US stocks, but yesterday's non-farm data for July surprisingly fell short of expectations, causing US stocks to open lower and decline, with the Nasdaq dropping more than 2%. Although Yellow Hair stated in an interview with Newsmax that he would 'not hesitate to fire Powell', he later remarked that 'firing Powell would disrupt the market'; despite criticizing high interest rates, he feels helpless. This also indicates that the President cannot directly fire the Federal Reserve Chairman. Yesterday's recommendation for a primarily short position turned profitable again, and on the first retracement to around 3600/114500, a long position was taken with a small profit at exit!

From a technical perspective, the daily chart shows five consecutive bearish candles, with a drop of over 7000 points this week. The short position strategy for this week has been realized, and medium to long-term short positions can exit. Currently, the technical outlook still presents a bearish trend, so the intra-day strategy remains unchanged with a focus on shorting during rebounds! Key resistance levels to watch are 116000, 117000, 1189000, 119500, 120000, and 121000, while key support levels are 112600, 112000, 111200, and the 110000 level.

8.2 Bitcoin trading strategy: Aggressive traders can short on a rebound between 115500-116000, while conservative traders can enter between 116500-117000, with a stop loss above 117500. Target levels are 11114500-114000-113500-113000, with a breakdown target around 112600-112000. Continue to move stop losses to protect profits as conditions change!

8.2 Ethereum trading strategy: Aggressive traders can short on a rebound between 3630-3650, while conservative traders can enter between 3700-3730, with a stop loss near 3780. Target levels are around 3550-3500-3450, with a breakdown target around 3430-3400. Continue to move stop losses to protect profits as conditions change!

Long position strategy: For Bitcoin, buy one hand on a retracement between 112200-112500, with a stop loss near 111200. Target levels are around 113500-114000-114500, with a breakdown to move stop loss to protect profits as conditions change!

For Ethereum, buy one hand on a retracement between 3400-3430, with a stop loss near 3360. Target levels are around 3500-3530-3550, with a breakdown to move stop loss to protect profits as conditions change!

After recent large declines, there tends to be capital inflow betting on longs. This time it’s uncertain if it will be any different; although the market appears bearish, it's not advisable to chase shorts at low levels! Wait for an ideal rebound position to re-enter! #美国加征关税 #非农不及预期