BTC/ETH market interpretation: Pay attention to resistance breakthrough and emotional reaction under data market.

Tonight is the small non-agricultural data market. Bitcoin has stabilized for a day after breaking through 70,000 in the early morning. The high-level stabilization indicates the weakening of the current market short-selling force and the rise of the long-selling force. At the same time, it also represents that more traders choose to wait and see.

In the data-driven rising market, we must pay attention to the breakthrough of key resistance. If accompanied by positive news, the breakthrough of key resistance is unstable, then we must pay attention to short-term fluctuations.

BTC: 71,200 daily short-term resistance, it is not difficult to break through, but it is difficult to stand firm.
72,000 resistance level breaks through and stands firm, there will be a chance of a general decline to a new historical high.
With a small probability, if the data tonight is bearish, the price will inevitably fluctuate downward in the short term, but it will not be too exaggerated. After all, the subsequent large non-agricultural and employment rate are the focus of this week.
If it retreats, pay attention to the daily support of 68,700.
RSI: The index is currently 63. With the upward breakthrough, pay attention to touching around 70. If the market fails to break through in the short term, pay attention to the risk of decline.

ETH: Pay attention to the 3830 monthly resistance level. Ethereum has been a little weak in the past few days. Pay attention to the breakthrough and stabilization when it rises tonight.
Similar to BTC, if it falls back, pay attention to the 3681 daily support, but the predicted retracement will not be too large. The small-level support around 3760 may provide effective short-term support.
RSI: The index fell back to around 63, and the sentiment dropped compared to yesterday. At the same time, pay attention to the reaction of the RSI index touching around 70 during the rise.

Note: The above points refer to the spot market. Contract traders should pay attention to adjusting their own points.

If the data tonight is positive, but the market cannot effectively break through and stabilize at the BTC 72,000 key point, it is necessary to focus on the rise of the RSI index. If the index rises above 70, it means that the short-term breakthrough consumes a lot of bullish sentiment and cannot break through, which means that the bullish force is not strong enough, so pay more attention to the short-term decline risk.
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