Everyone should be in a better mood today than in the past two days. Everyone was feeling very uncomfortable in the past two days. There was a rebound today, so how will the subsequent market trend?
Yesterday, May 3, the non-farm data came out. Non-farm refers to the data status of the non-agricultural population, such as some working people and the service industry, which represent the vast majority of the American labor force!
1. Non-agricultural Strategy
Data released by the U.S. Department of Labor showed that the increase in U.S. non-farm employment in April was significantly lower than expected, the smallest increase in six months. The unemployment rate unexpectedly rose, and the year-on-year wage increase was lower than expected and the previous value. After the data was released, traders' expectations for the Federal Reserve's first interest rate cut were advanced from November to September. U.S. stocks and U.S. bonds rose while the dollar fell.
So Bitcoin will definitely rebound, which is also a major reason for the recent rise. So is this wave of rise a scam or an upward trend?
2. Market analysis and operation:
From a short-term perspective, the key position of 65,300 has not been broken, so it cannot be considered a trend reversal. From the perspective of the long-short ratio, the current decline has exploded a lot of bullish leverage, but there are more bullish chips at the bottom, so it is highly likely that it will not be pulled up in one wave. Volatility is inevitable. As for whether it will oscillate downward or upward, we will pay attention to the key positions of 65,300 and 57,600. A breakthrough or break below this may determine the trend, so my current approach is still to sell in rebounds!
