Market Review:
Yesterday was the non-farm data day, and the overall performance of the market was mediocre, 80% of the time it remained in the 29050-29260 range. Despite the positive non-farm data, it still did not break through the four-hour suppression. In the early morning, the first pin test reached the bottom of 28900, and at 4 am it reached 28800 again! Now it is consolidating around 29100.
Market analysis:
Today, the big cake closed with a long needle. Although it did not create a new low, the bottom divergence we have been expecting did not appear, so the second bottom divergence could not be formed. Therefore, we need to continue to pay attention to whether there will be a new low. However, a golden needle was closed at the 28,800 position of the four-hour chart, which is also an important bottom in 21 years, suggesting that the continuous insertion of needles in the short term has failed to break. From a short-term perspective, the market may rebound to a certain extent. However, the upper pressure has formed an underwater dead cross in the 4-6 hour chart, and the bottom divergence MACD of the 12-hour chart is about to form an underwater dead cross, which makes us need to pay special attention to the suppression strength of the 4-6 hour MA60.
Operation suggestions:
The overall sideways trend has not been broken yet, and the idea is still to short on rallies as the main strategy and buy on lows as the auxiliary strategy.
BTC: upper pressure 29300-29600, lower support 28800-28500
ETH: Upper pressure 1850-1880, lower support 1810-1786
