Last night, #以太 was smashed like that, can we still bottom-fish?💥💥
The non-farm data released last night indicates that the U.S. labor market is not doing well, and economic issues are beginning to surface.
The market now fully expects the Federal Reserve to cut interest rates in September, but this rate cut is forced, indicating that the U.S. economic issues are on the brink of being unsustainable. In this view, Trump's criticism of Powell as 'Mr. Too Late' is not entirely unfounded; if the rate cut had come sooner, a soft landing might have been possible. Now waiting until the economy is about to collapse to cut rates, isn't that closing the barn door after the horse has bolted??
As soon as the data came out last night, Ethereum's attempt to hit 4500 failed, and it instantly dropped back to the starting point. Coupled with the violent sell-off at the opening of the U.S. stock market, aggressive buying caused significant losses for long positions. Sister Min honestly said that chasing highs is just asking for trouble. Are there still friends who haven't caught the bottom yet, standing guard at the mountain top??
At such times, absolutely avoid weak coins and focus on those that have dropped less and rebound quickly, like $EIGEN and $ENA . Sister Min has been promoting these two coins for a few days, even yesterday. There has been continuous inflow of funds on-chain, and positive news is driving them, making them suitable for low-position ambush.
Today is the weekend, and without the stimulus of U.S. stock purchases, the market is likely to fluctuate, but the extent of the continued decline won't be too large.
During the day, suitable positions can be found to enter for a swing trade. Those seeking stability should wait until Sunday noon when I will notify the team to enter. Come on!🔥🔥
