BTC market analysis

The price of Bitcoin plummeted again, falling directly to the lowest point of 53,400. The short forces seem to have an absolute advantage. Tonight, the market will also usher in the release of the highly anticipated non-farm employment and unemployment data for June, which will undoubtedly bring new fluctuations to the market.

Today's decline is faster than expected. I thought it would not happen until the non-farm data was released. However, the market is always full of uncertainty, and the trend of the market is often beyond our expectations. Although these two medium- and long-term short orders did not eat all the profits, they were shorted all the way from 71,000, plus the prediction of 63,800 as the rebound limit on Monday this week, and continued to short in the range of 63,000-63,500. Any short order in the middle can bring considerable returns.

The non-farm employment and unemployment data for June will be released at 20:30 tonight. This set of data is crucial to the impact on the short-term market. According to the previous value and the forecast value, the non-farm employment data may be lower than expected, which will have a certain positive impact on the market and may have a positive impact on the future monetary policy of the Federal Reserve.