Tonight, the market will welcome the release of important data, and investors need to remain vigilant to avoid missing opportunities or causing position changes due to price fluctuations!
From the intraday trend, Bitcoin has temporarily slowed its decline above the support level around $95,000. However, there are still two key support levels below, located around $93,500 and $91,500, which investors need to closely monitor for their support effectiveness.
At 21:15 tonight, ADP employment data will be released, commonly referred to as 'small non-farm'. This data is published by ADP and reflects changes in U.S. private sector employment. As a leading indicator of non-farm employment data, ADP data has significant reference value for the market. If the data performs strongly, it may indicate that non-farm data will also perform well, thus having a positive impact on the market.
Immediately following at 21:30, the initial jobless claims data will be released. This data is a high-frequency indicator of the health of the labor market, and a decrease usually indicates a relatively strong job market, favoring employment for job seekers. If initial jobless claims are lower than expected, it may enhance investor confidence in the U.S. economy and have a positive impact on financial markets.
In addition, the EIA inventory data at 23:30 cannot be ignored. This data is directly related to the global supply and demand balance of oil and has a significant impact on oil price trends. If inventory increases, it usually indicates an oversupply, which may lead to a drop in oil prices; conversely, if inventory decreases, it indicates strong demand or tight supply, which may drive oil prices up. Since oil is priced in dollars, changes in inventory data may also indirectly affect the dollar index, thereby impacting the prices of other commodities.
Currently, there are no clear signs of a bottoming out in Bitcoin's downward trend, and there remains the possibility of continued decline or sideways consolidation. In an unclear market, investors are advised to operate cautiously and avoid blind bottom-fishing. For investors worried about missing out, a phased entry strategy can be considered, i.e., buying a small amount during slight declines and increasing the buying intensity during significant declines. Specifically, a Bitcoin price of around $92,000 can be seen as a slight decline, while $87,000 can be seen as a significant decline, and operations should be based on personal risk tolerance and investment strategy. Investors should weigh their decisions carefully and invest rationally. Finally, I would like to share a potential coin I've been watching recently, which I see could yield 5-10 times in the short term. If you want to get in, you can check out the Ethereum chain's puppies.