Good morning, brothers. The market has rebounded after the release of unemployment data. The cooling of the labor market proves that the Fed's policy interest rate is suppressing economic growth and helping to bring the inflation rate back to 2%. Don't be too pessimistic when the market falls, and don't be too optimistic when the market rises.
Strategies for dealing with the current market situation
(1) Recommended position: 50%, do not increase the position
(2) Don’t chase the rebound, otherwise you may get stuck
(3) Don’t panic and sell if the price drops
Now that the market has rebounded, remember point 2: don’t chase the rise, otherwise you will be trapped. You can sell some of your profitable positions and buy them back when the price drops.
Judging from the on-chain data, there has been no improvement in funds, and there has been no change in the inflow of stablecoins into exchanges.
In addition, the possibility of Israel attacking Rafah is increasing. Netanyahu vowed that even if the United States does not help, Israel will fight alone and "fight tooth for tooth." The Minister of Defense said, "No matter what the cost, we will ensure the existence of the State of Israel." Biden has instructed his team to continue to cooperate with Israel to carry out a lasting blow to Hamas.
The data released last night was actually positive, but the currency market did not rise much. The main concern is about a large-scale war!
The next important data is the CPI to be released next Wednesday. If it is significantly lower than expected, the cryptocurrency market will see a big rebound. However, in the case of insufficient funds in the market, the cryptocurrency market will definitely fall due to panic before the data is released.
Technical aspect: The price of Bitcoin fell to 60630 last night and got support. It did not fall below. It will fluctuate between 60000 and 65000 in the short term, but the high point of each rebound is lower than the previous one. Especially from the weekly and daily levels, a resonance callback demand has been formed. Even if it does not fall, it is basically difficult to reverse in the short term. Wait for the second bottom. Of course, the longer the sideways, the better. At this stage, it should be the best choice to continue to wait and see! #BTC