ETH's life-and-death game tonight! As soon as the U.S. non-farm data is released, will it surge to 3800 or plummet to 3500? The captain will help you layout in advance!
Brothers, something big is going to happen with ETH tonight! The captain is watching the market, my hands are a bit shaky—ETH is currently dropping from the upper Bollinger Band towards the middle band, and MACD is also starting to shrink, technically it’s clearly waiting for a signal: tonight at 8:30 PM, the U.S. non-farm data! If this data blows up, ETH will either skyrocket or plummet, we must be prepared in advance!
Technical aspect:
The Bollinger Bands are narrowing, the price is falling from the upper band towards the middle band, indicating that the bulls are temporarily out of action, but the middle band is the critical line! If it holds, it can still rise; if it breaks, it’s over.
MACD red bars are shortening, but the fast and slow lines are still dead-crossed at a high position, it may need to drop a bit more in the short term; the key is whether it can reverse after the data is released.
Trading volume is shrinking, the market is waiting for news; at this time, whoever acts first will be the leeks, we should wait for the data to be released before taking action!
News forecast:
If the non-farm data is bullish (unemployment rate rises, employment population declines): the dollar will drop, funds will rush into ETH, directly skyrocketing! 3800 is not a dream, it may even break the previous high.
If the non-farm data is bearish (unemployment rate falls, employment population rises): the expectation for Fed interest rate hikes will return, ETH will definitely be hammered down, see below 3500, and may even test the 3400 support.
Captain's strategy:
Don't make any moves before the data! Entering the market now is like gambling with your life; it’s better to wait for the results to come out before chasing.
Bullish signal: Break above 3700 with volume, directly chase the long position, target 3800.
Bearish signal: If it breaks below 3600 and the rebound is weak, quickly run away, wait for a chance to buy below 3500.
Final reminder: Non-farm night is highly volatile, make sure to have stop-loss! Don't be greedy, those who make money are always the calm ones. Like and comment, the captain will guide you in real-time!