There are several important data today and tomorrow
- Unemployment rate and non-farm data will be released at 20:30
Beware of the three data, one of which is bearish, and then another pullback
If there is a pullback, don't sell, but remind yourself to hold on
Current bullish factors:
(1) BTC computing power is currently at a low point, and miners are not making much money, indicating that the market is close to the bottom
(2) The last halving cycle started to surge in the fourth quarter. Will it start to rise in the fourth quarter this time?
(3) Long-term holders (wallets that have held Bitcoin for more than six months) continue to accumulate Bitcoin at a record level, and their total balance hit a monthly high of 391,000 BTC this week
(4) Interest rate cuts and water release are imminent, and there will be more funds in the market
Current bearish factors:
(1) Mentougou's last 80,000 BTC continued to cause selling pressure, and there are still more than 30,000 that have not been released
(2) The breakdown of the Israeli-Palestinian peace talks and Iran's involvement have caused a larger-scale conflict
At present, we still need to wait for the selling pressure in Mentougou to resolve, which will take time
The later the time goes, the higher the turnover, the smaller the selling pressure, and a positive news will enable BTC to break through the shock.
