Non-farm data is coming! What impact will it have on the Federal Reserve's interest rate cuts and Bitcoin!?
From the daily level, Bitcoin has not yet reached a bearish position. In the short term, the market needs a wave of upward movement to digest the bullish sentiment. I tend to believe there will be an upward movement after a spike, so open positions with a good stop-loss. The spike is looking towards the area of 68623—67731 to see if it will break, with strong support still around 648-652.
This non-farm data is affected by hurricanes and strikes, as well as potential impacts from data costs, and the expectations are far below the previous value. After the release, we will analyze the impact on interest rate cuts. The decline before the non-farm data can be seen as profit-taking by bulls.