After BTC broke through the downward trend line, it turned and plummeted. Our long order based on the currency was stopped out at 57.5K.
The decline of copycat currencies was even more severe, and the cryptocurrency circle was bleeding.

In recent days, the U.S. stock market has hit new highs every day. Yesterday, the non-farm payrolls were positive, the U.S. dollar fell, and gold rose. However, BTC still fell against the trend, which is a dangerous signal.
BTC has currently fallen below the daily MA200 and the weekly rising trend line, entering a critical moment!
ETF holders and right-side trading whales may stop losses and exit, creating further selling pressure.

What do you think about tomorrow’s big non-farm data?

Tomorrow's non-farm payrolls and unemployment rate are very critical, which is an important reference for the Fed to decide on subsequent interest rate policies. According to the speculation of our fund researchers, tomorrow's unemployment rate will meet expectations, but the non-farm payrolls will exceed expectations and be bearish.

Countermeasures:

1. Respect the market, put survival first, and stick to trading discipline; don’t go long before the bottom pattern emerges;
2. BTC fell below the daily MA200, and the stop loss was 10% of the spot at 57.9K; if the daily closing line is also below 58.3K, the stop loss will be another 10% of the spot;
3. If tomorrow's non-agricultural data and unemployment rate are negative as predicted, stop loss will be 10% of the spot; if positive, buy back the spot;
4. If the non-farm payrolls and CPI data next Thursday are not good, BTC is expected to fall to around 50,000. Then take back the reduced position.
5. Without the Fed's monetary easing, the cryptocurrency market will not be able to thrive. Stay patient, control risks, and wait for the interest rate cut in September or November.
#BTC走势预测