Brothers, this is incredible, the non-farm data was just released, the unemployment rate rose from 3.9% in April to 4.0%, breaking the previous record of remaining below 4% for 27 consecutive months, which is good news.
However, non-farm payrolls increased by 272,000 in May, the largest increase since March this year, far exceeding market expectations of 180,000, which is bearish news.
Brothers may wonder, the unemployment rate is increasing, why is non-agricultural employment also increasing? The reason is that the unemployment rate includes agricultural employment, while non-agricultural employment excludes agricultural employment.
The two seem to offset each other, but non-farm payrolls data is more important than the unemployment rate, so overall there are more negative factors.
However, Tang Ren believes that the non-farm payrolls of 272,000 in May released by the Ministry of Labor are very inflated, and if nothing unexpected happens, the data will definitely be revised downward when it is released next month.
Brothers who often watch videos on the Internet know that the streets of Da Piaoliang are now full of unemployed, bankrupt and homeless civilians, and the employment data can actually increase significantly. Haha, it's just the emperor's new clothes game during the election.
But no matter what, the bad news still has a great impact on the current market. Within a few minutes of the news being announced in the evening, Bitcoin fell directly below 71,000, and Bitcoin even plunged to 3,771.
The market's long orders were once again ruthlessly bullied, with long orders liquidated in more than 25 million US dollars in one hour. Tangren articles have predicted before that before the Yitai ETF is listed in June, the dog dealers will seize all the hot news to wash the market and harvest chips.
Therefore, it is normal for the market to fluctuate violently, and it can be regarded as a routine operation of the dog dealer. At present, it basically belongs to the game of the existing market. The dog dealer can still control the market, but when the real incremental Yu Yitai ETF is listed, it will be difficult for the dog dealer to control the market.
Therefore, there is no need to worry, let alone panic. The trend is still there and the market trend is also very healthy. The fact that the market can still stand above 70,500 despite this round of negative news shows that the foundation has been built.
If nothing unexpected happens, the Auntie ETF will be listed in June. Tangren believes that the market performance in June will absolutely be amazing, and it will not be too difficult to reach new highs.
Yesterday, the ETF had a net inflow of 3,035 coins, totaling 215 million US dollars. BlackRock bought 4,902 coins. Bitcoin is now firmly the largest bitcoin holder. The Bitcoin ETF has seen net inflows for 18 consecutive days, which also shows that the market's funding side is positive.
Yesterday, Beatwise, the issuer of Bitcoin ETF, tweeted that when Wall Street institutions that manage $20 trillion in assets were asked why they did not invest in Bitcoin or cryptocurrencies in the past six years, they gave the same answer: because of regulatory uncertainty.
Bitwise believes that now that this biggest obstacle has been removed, Wall Street as a whole will accept cryptocurrencies as a normal part of market investment in the future, so the listing of the Yitai ETF will surely push the entire industry to an unprecedented high.
In addition, other countries around the world have recently launched spot ETFs, and new traffic is rushing into the crypto market. In the long run, we can really just focus on hoarding coins and leave the rest to fate.
It’s what Tangren has always shared with everyone: Every pullback is an opportunity given to us by God to get on board, and all we have to do is to enjoy this God-given wealth by investing in and hoarding coins.
Finally, in a bull market, what to buy and how to buy are very important, but when to sell is more important. If you want to know more about the market interpretation and strategy, please follow us and find Tangren to play in the crypto circle together.
Tangren’s interpretation of the market:
Big Pie: The intraday market fluctuates around 71000. The four-hour line shows signs of breaking upward, but there is no big breakthrough. The important news of non-agricultural data will be released in the evening. I personally think that non-agricultural data is good for the market. The technical aspects of the market often fail in the face of news, so everyone should pay attention to the data tonight. Before the news comes out, the market is still dominated by shocks. The upper pressure is 72000 and the support is 70000.
Auntie: The intraday trend is relatively weak, fluctuating within 30 points. The four-hour line trend is still downward. The current trend will fall back to 3750. If it falls back, it depends on the support of 3750. If it breaks, it will create a new daily low. The non-agricultural data is positive, and the short-term trend will change. The bulls will rise. The upper pressure level is 3890 and the support level is 3750.
In terms of altcoins: ORDI in the inscription sector led the rise, the Bitcoin ecosystem gradually rose, and other sectors did not show much improvement. The positive non-agricultural data boosted the market. Next, altcoins may usher in a wave of opportunities. You can pay attention to the old altcoins in the early stage. Today, many old altcoins have started to pull up the market, such as BSV/FIL, etc. Focus on MEME and SOL ecosystems and BRC20
Tangren talks about strategy:
Since short-term strategies are time-sensitive and the market changes rapidly, many strategies cannot be shared with everyone in a timely manner. Therefore, you can read the introduction on the homepage of the article to find Tangren and send a message to receive it.
Strategy 1: Ambush W on May 18, entry price is 0.56, current price is 0.68, the increase has reached 25%, continue to observe, hold tight, target price is 0.8.
Strategy 2: On May 20, ambush wld, entry price 4.8, current price 4.928, continue to hold patiently, short-term target 8.5, long-term target 21.3.
Strategy Three: (New) On June 4, ambush STRK, entry price 1.22, current price 1.325, up 15%, continue to hold, short-term target 1.54, long-term target 2.3.
The essence of Tangren's trading strategy: the first step is to determine the trading cycle, the second step is to confirm the trading direction, and the third step is to formulate a trading plan. The plan must clearly state: where to enter, why to enter, how much to enter, how to exit, where to exit, and why to exit?
What should you do if you get the market right? What should you do if you get it wrong? If you don’t understand the market, don’t give yourself problems.
Each of my plans includes three predetermined results: exit with a stop loss, exit with a breakeven, and exit with a profit. Regardless of the result, I will review and summarize the gains of this plan after the plan is completed.
