U.S. nonfarm payrolls in September came in at only 29,000, versus expectations of 90,000; the unemployment rate was 4.2%, versus expectations of 4.1%. July and August were also revised down by a combined roughly 60,000 jobs.
As soon as the data came out, Binance spot briefly touched 87,220, and is now around 86,700. Expectations for an October rate cut are rising, but don’t chase it at these elevated levels.
What would I do: don’t chase near 87,200. Still wait for a pullback to 84,800–85,200 and only go in lightly if it holds; the first target of 87,200 has already been tested once, and above that I’d look to 88,500; if it breaks below 83,800, step aside. Just my personal view—manage your own position.
$BTC
As soon as the data came out, Binance spot briefly touched 87,220, and is now around 86,700. Expectations for an October rate cut are rising, but don’t chase it at these elevated levels.
What would I do: don’t chase near 87,200. Still wait for a pullback to 84,800–85,200 and only go in lightly if it holds; the first target of 87,200 has already been tested once, and above that I’d look to 88,500; if it breaks below 83,800, step aside. Just my personal view—manage your own position.
$BTC
