US September ADP private employment report is out: added about 90,000, market expectations around 70,000, and the prior figure about 38,000. A bit too hot.
With employment running hot, interest rates are more likely to lean toward “don’t rush to cut too quickly.” Binance spot Bitcoin is still hovering around 83.9k for now. The daytime low was roughly at 82.9k, still a bit away from the invalidation level I set previously at 82,350.
How I see it: the data is indeed quite hot, but I don’t have a reason to write it off as a flip to a quick downside reversal right away. The overall market’s bullish plan is still in place; I’m not chasing at 83,900 right now.
What I’ll do: Around 83,900 I’ll first stay on the sidelines. I’ll still wait to see whether it can hold in the 82,800–83,200 area before entering a small position. First target: 84,200; further out: 85,000. If it breaks below 82,350, I’ll pull back for this move. Personal view—manage your own risk and positions.
$BTC
With employment running hot, interest rates are more likely to lean toward “don’t rush to cut too quickly.” Binance spot Bitcoin is still hovering around 83.9k for now. The daytime low was roughly at 82.9k, still a bit away from the invalidation level I set previously at 82,350.
How I see it: the data is indeed quite hot, but I don’t have a reason to write it off as a flip to a quick downside reversal right away. The overall market’s bullish plan is still in place; I’m not chasing at 83,900 right now.
What I’ll do: Around 83,900 I’ll first stay on the sidelines. I’ll still wait to see whether it can hold in the 82,800–83,200 area before entering a small position. First target: 84,200; further out: 85,000. If it breaks below 82,350, I’ll pull back for this move. Personal view—manage your own risk and positions.
$BTC
