$BTC $ETH

Evening Analysis:

Will the unemployment data at 9:30 PM tonight save this weak market? The intraday rebound is weak, with Bitcoin and Ethereum alternating in a protective downward trend. In this situation, the feeling of stepping southward is getting stronger, so if we encounter a rebound due to tonight's data, it will be a good entry position for shorting! Currently, the long positions are easily hit, and the strength of the bears is pressing the bulls down against the floor. Last time, it was able to bounce a bit, but this time there’s clearly no rebound, which is a sign of capital escaping, and it also indicates that it hasn't dropped thoroughly.

The market has once again entered a long period of needed consolidation. A bull flag is being formed, aiming for a big bull market next year. It’s unlikely to see a significant rise in the next month or so. The 108-900 range is destined to absorb more chips, whether it breaks the 9, we will put that aside for now. Let's first transition to the support levels of 94-93-91! In the strong bearish phase, do not exit all short positions, continue to wait for exits near 91, and the strategy of looking for positions to grab rebounds remains unchanged!

Ethereum still has the unchanged support at 3300, and then there’s the issue of the CME gap—whether it should be filled. It definitely needs to be filled, but I don't know when. Anyway, my principle is to reserve my position to fill in at the gap of 2800, while continuing to sell high and buy low without caring about it. In this bull market for Ethereum, oscillating is always more profitable than following the trend.

The unemployment data for this week is actually not very important; it’s just that the market tends to take advantage of the situation when there’s such a significant drop. The entire market is starting to see forecasts of 80,000 and 280,000. A spiraling wave is very normal, if there’s such an opportunity, just short it! For BTC's rebound, let’s see if it can approach 973, and for Ethereum, around 3420. Decide on your own stop-loss position; I usually set my stop-loss at 1 point in the face of an absolute trend!

At this time, both long and short can only make short trades; there’s no way to make trend trades, as it belongs to the middle of the channel. Don’t mess around with the overall pattern; it's easy to get hit!