Non-farm payrolls data was weak, market recession fear spread, gold hit a new high, the stock market technology sector plummeted, and the crypto market also fell into a losing streak. How will the market perform under the shadow of economic recession? Non-farm payrolls growth was weak, the market was worried about the US economic outlook, and the Fed's interest rate cut expectations heated up. Gold became a safe haven, but the stock market was sold off, and technology stocks were the first to bear the brunt. The crypto market was also not spared, and panic enveloped the continuous decline.
But it is precisely this downturn that may indicate new opportunities brought by interest rate cuts. Technically, the daily and 4-hour levels both show a downward trend, but there may be a rebound near the key support level. Behind the sharp drop in Bitcoin, political uncertainty and differences in cryptocurrency positions have exacerbated market turmoil. The contract risk is high, it is recommended to operate cautiously and pay attention to the market repair. Bitcoin = upper pressure 63,000: support 60,000 and 58,800 market 89 months buy on dips to build positions.
In the face of market turmoil, what do you think? Come to the comment area to share your insights and strategies!
