🔥$BTC 🔥

There are still major events happening tonight, don't look back and find that the price hasn't changed but your positions are gone!!!

The intraday drop of Bitcoin is slowing down above the support level around 95000. There are two more support levels below, around 93500 and then 91500.

It's not over yet; there is also the ADP data tonight, which continues to have a significant impact on the market as an observation data for non-farm employment.

The ADP at 21:15 is commonly referred to as the 'little non-farm.' It is the change in private sector employment numbers released by ADP, providing an unofficial but highly watched perspective on the state of the U.S. job market.

The initial jobless claims number at 21:30 serves as a high-frequency indicator of labor market health. A decrease usually indicates a strong job market, making the economic environment favorable for job seekers. The release of this data could have a positive impact on financial markets, enhancing investor confidence in the U.S. economy.

The EIA inventory data at 23:30 has a significant impact on oil prices, as it directly relates to the global oil supply-demand balance. An increase in inventories usually indicates oversupply, which may lead to a drop in oil prices; a decrease suggests strong demand or tight supply, potentially pushing oil prices higher. Since oil is priced in dollars, changes in inventory data also indirectly affect the dollar index, thereby influencing the prices of other commodities.

Currently, there are no signs of a halt in the decline of Bitcoin. Even after a sideways movement, the possibility of a deeper drop remains significant. In the face of market uncertainty, caution is advised when attempting to buy the dip. Those afraid of missing out can take a small position, and the strategy of buying small on minor dips and buying big on major dips should work fine. The current market indicates that a small dip for Bitcoin is down to 92000 and a major dip is down to 87000. Use your discretion.

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