Will Bitcoin continue to fall?
We talked about it in the program on May 1st. Bitcoin's 5W6 is a key support and a very good opportunity for a rebound. This time it also rebounded smoothly, because there must be a correction after a surge, and there must be a rebound after a plunge.
Now I am focusing on the 60,000 place. It was an important support in the past, but now it has fallen below it, and it will become a resistance to the rise. Although there is a possibility of a direct breakthrough, the probability of encountering resistance and a correction here is quite high. I will pay attention to whether a double bottom will be formed near 58,500 and the more critical previous low of 57,000.
Of course, if it breaks through 6W directly this time, it will be a very strong signal. The turning point here is tonight's US employment and unemployment data.
Market expected unemployment rate: 3.8%.
Number of employed people: 195,000.
Because inflation is currently rising and employment data is hot, if the unemployment rate this time can be higher than expected, or the number of employed people is reduced, it will be good for inflation and will increase the Fed's expectations of a rate cut. Therefore, the employment data at 8:30 tonight is very critical to the trend of the market in the future.
Finally, don't forget, we still have a May Day special today, if you want to come, you can come and have a look~🐰