$BTC
The support at $10,000 is only temporary; it will break sooner or later, unless there’s suddenly a favorable market trend tonight, otherwise the probability of going down is greater!
Tonight's strategy prediction:
First lure the bulls, let it rebound to around $103,000, attracting a batch of people who think it's going to rise, then turn around and drop to $98,000.
Yesterday, the number of people applying for unemployment benefits in the U.S. suddenly rose to the highest level in eight months.
Scaring the U.S. bond yields down to the lowest level in nearly a month, now everyone thinks the Federal Reserve might cut interest rates in September.
Although it's highly unlikely to cut rates, if there's an unexpected result in tonight's non-farm payroll, everyone's outlook on interest rates will change significantly.
The Federal Reserve's interest rate cuts depend on employment and inflation:
A surge in unemployment + poor non-farm data indicates the economy 'can't hold on any longer'.
Rate cuts would have to be anticipated.
Conversely, good data = a 'robust' economy.
Rate cut expectations would be pushed back, and Bitcoin, as a 'representative of risk assets', jumps around with market sentiment. Tonight is the 'moment of the bull-bear showdown'.
Follow Hashni, and I will share new directions with you at the first moment tonight.