Tonight is destined to be another sleepless night. The ADP employment report and initial jobless claims will be released at 21:15 tonight. If the ADP employment data performs poorly or if the number of initial jobless claims unexpectedly rises, it may intensify market concerns about the speed of economic recovery and further affect expectations for the monetary policy of the Federal Reserve. Last night, Federal Reserve Board Member Lisa Cook issued a rare direct warning to the U.S. stock market. Lisa Cook stated that many asset classes, including stocks and corporate bonds, are valued high and these markets may face the risk of a significant decline due to adverse economic news or a shift in investor sentiment.

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Bitcoin rebounded slightly in the morning and tested above 970,000 before encountering another surge in selling pressure, causing the price to drop back to around 95,500 and continue to fluctuate. On the daily chart, after a rise at the beginning of the week, the price retreated and closed lower at the resistance level of 102,700, forming a bearish candlestick and returning to a state of volatility with insufficient bullish momentum. Looking at the 4-hour chart, it broke the bullish streak structure and fell below the middle Bollinger Band, indicating that the recent trend is more inclined to wide-ranging fluctuations rather than a strong one-sided movement. After encountering resistance near 97,500 in the morning, the next target is expected to be near the lower band or the trend line, and the price will return to the previous week's range of volatility. In the evening, pay attention to the possibility of breaking below the previous upward level due to the recent repeated movements. Considering the recent volatile trend, it is advisable to adopt a range-bound strategy in the short term and adjust the strategy if it breaks below.
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The Ethereum spot price has been falling all the way back to around 3350, with oscillating trends. The daily chart shows a big bearish reversal. The opening was high and the closing was low, forming a bearish reversal that swallowed four bullish candles. Looking at the 4-hour chart, the trend is slow to rise and quick to fall. The rising trend is a continuous small broken candlestick rise, and the big drop is a big bearish candlestick followed by a small bullish candlestick rebound correction and then a big bearish candlestick decline. Last week, it rose continuously, but the one-day decline has wiped out nearly half of the upward space. Meanwhile, the 4-hour chart has lost the middle track and is weakening, with a large fluctuation range. The short-term process is convoluted and repetitive, which tests the entry points even more. The hourly chart oscillates up and down, and the moving average indicators are messy and divergent, requiring more time for short-term fluctuations. Overall, it is still in a transitional adjustment. In the evening, attention should be paid to the breakthrough of the key support level of 3300. If the short-term support level is held, it is recommended to continue to hold and look for long positions, and adjust the strategy if it breaks below.