Today's market analysis
Looking back at yesterday's market, there are relatively few highlights. It is basically a stage of market repair. From the market, we can see that the buying volume near 58,000 is very strong. Basically, it will rise in the short term after reaching this level, so most of the market is more confident about BTC at this price. Looking at today's market, it is still a continuation of the shock repair. Last night's Nvidia earnings report did not have much impact on the market. Perhaps the big drop in the past few days was also completed in advance, so the impact of such news will be reduced. The second is tonight's initial jobless claims data. In recent months, the data has had a relatively large impact on the market. After all, these data are related to whether interest rates will be cut. For the market's attention to the expectation of interest rate cuts, these data usually have a certain impact on the market. Tonight, I expect the data to continue to affect the further decline of the market. This wave of decline will not end so quickly. It is likely to continue until around next week's non-agricultural data. Therefore, in the near term, long orders should be cautiously opened. It is relatively stable to open short orders at relatively high points as much as possible.
Intraday pressure and support levels
BTC pressure level 60200/61500 support level 58500/57800
ETH pressure level 2580/2620 support level 2520/2480
Spot sector analysis and recommendation
As for the altcoin market, most of the altcoins have followed the decline of the big cake, but there are still many relatively resistant currencies in the market, including the TON ecosystem, the Binance system has not been listed on the contract, and there are old-fashioned currencies like aave that have practical applications in the market. Although there has not been a large rebound, at least the decline is relatively small when it falls. Recently, Binance has been launching contracts for low-market-value tokens to activate the market's trading volume. The increase in this type of currency is also considerable, basically rising by more than 30%. This market sentiment will not end so quickly in the short term. You can find some similar tokens to ambush, but there is no need to chase those that have already risen, so as not to be trapped at the top of the mountain.
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