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Last night, the U.S. non-farm payrolls data was released, showing that the number of non-farm payrolls increased by 12,000 in October, which was significantly lower than expected: the estimated increase was 105,000, and the previous value was an increase of 254,000. The Fed is expected to cut interest rates by 25 basis points in November. Overnight, the three major U.S. indices all closed higher, with the Dow rising 0.69%, the Nasdaq rising 0.80%, and the S&P 500 rising 0.41%. Intel rose nearly 8%. The company's performance exceeded expectations, and its revenue guidance was higher than analysts' expectations.
The encryption market is stabilizing, with BTC at 69500 USD and ETH at 2520 USD. The coins that are about to be delisted are among the top losers. As the US election approaches, market uncertainty is increasing, and many investors choose to reduce their positions, which not only greatly reduces the chances of BTC hitting a new high before the election, but may also cause market turmoil and cause the currency price to slump. Trump and Harris are the main candidates, and different results will lead to different trends in the crypto world. If Trump is elected, the crypto world may have a pump, especially for Dogecoin. Behind this is Musk's promotion. His support for Trump, coupled with Dogecoin's efficiency, security, and decentralization features, may give it more opportunities under Trump's administration. If Harris is elected, the market may experience a significant pullback. However, in any case, it is necessary to be prepared for both situations and it is not suitable for Heavy Position!
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BTC yesterday can be said to be short term long and short positions frequently alternated, although the daily candlestick relied on the pullback support at the 68800 level, the trend fluctuated back and forth, not afraid of big pumps and big dumps, but afraid of the torture of long and short alternation; The current trend of the daily candlestick is still in a range oscillation. After the top, long positions have experienced a pullback, but the structure of the overall trend has not changed. From the low points of several bottom explorations, the overall trend is still rising. It's just that the suppression of the resistance above is strong. The non-farm payrolls data announced at 20:30 last night was far lower than expected, and the significant difference in data belongs to strong Favourable Information! Regardless of whether the data will be adjusted in the future, it indirectly led to the counterattack of BTC long positions. After the daily candlestick on the technical indicator closed last night, it went down after the top, which also conforms to the basic trend of the M shape. If it cannot break through 68800, it will probably oscillate and rise. The weekend will basically continue to oscillate! From the perspective of 4 hours, there are Long Wick Candles up and down on BTC, and there are signs of a turning point in the technical indicator. Currently, the overall direction is bullish, and the structure is upward, so there will be a relatively large space for pump after the pullback. So in terms of operation, we still prefer to buy low after the pullback!
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After-hours Ethereum received a Rebound boost from the positive impact of non-farm news, with the highest reaching 2587 and pressure back down, with the lowest stopping at 2481. The current market data shows that the strength of long positions did not hold up, and the gains from last night have been basically given back, entering a wide range of fluctuations, with no definite continuity in the strength of long and short positions. In the stage of choosing between long and short positions, the space is somewhat converging, and the short-term is testing patience. In the short term, there may be a second high and then a fall. Pay close attention to the short-term low point near 2465, and deepening the adjustment space if the low point is breached, you can follow the trend and go short. Currently in a state of contraction and consolidation, the market is in the midst of a Rebound, first look at the extent of the Rebound, and then at the space for pressure back down.