8.2 Daily Bitcoin Analysis
Last night, the non-farm payroll data was significantly revised down, combined with a simultaneous "violent pullback" of previous values, leading to a rapid increase in market expectations for economic slowdown and policy shifts. U.S. Treasury yields fell in response, U.S. stocks rebounded, and short-term liquidity repair expectations strengthened, providing marginal benefits to the crypto market.
Bitcoin quickly retracted after testing the 112700 line in the early morning, returning to a range of fluctuations, but market panic has not completely dissipated. The direction of this week's market is likely determined by last night's U.S. stock performance and non-farm payroll data.
It is worth mentioning that the CWE gap around 113000 on the daily chart has been filled, providing a basis for temporary stabilization.
Operations
Bitcoin: Long in the range of 113200 - 112000, targeting 115200 - 116300.
After the daily gap is filled, if it continues to increase in volume and stands above 116300, there is hope for further rebound space.
Ethereum: Long in the range of 3560 - 3515, targeting 3645 - 3685.
