U.S. September non-farm payrolls only added 29,000, versus expectations of roughly 90,000, while the unemployment rate rose to 4.2%?
After hiring cooled, the market scaled back its bets on an October rate hike, and the Nasdaq rose about 1.2%.
For $BTC, this is a positive for liquidity expectations, but the price action didn’t follow the stock index. After the NFP release, it spiked and then pulled back, still stuck below the prior high.
Currently, BTC is hovering around $84,500. The October 2 high of about $87,200 has not held.
First, expect selling pressure in the $85.1k–$86.8k area. Only if it holds above that zone will it have a chance to retest $87.2k. Higher up is around $88.7k, near the year’s opening level.
Downside support sits at $83.5k–$84.0k. If that breaks, watch $82.5k. If $82.5k is broken again, the short-term structure will weaken; then $80k would become the next target.
September’s new jobs and the approximate monthly average of the past year—around 41,000—are broadly in line with the current pace. The unemployment rate remains low. Before the end-of-month meeting, there’s still more data, so policy doesn’t have to be set in stone based on this single report.
This move looks more like it’s suppressing the probability of an October rate hike; the likelihood of a trend reversal doesn’t seem high. If BTC can reclaim $85k and hold above $83.5k, it could see a breakout!
By the way, what’s your belief?
#比特币涨至8.65万美元后回落
After hiring cooled, the market scaled back its bets on an October rate hike, and the Nasdaq rose about 1.2%.
For $BTC, this is a positive for liquidity expectations, but the price action didn’t follow the stock index. After the NFP release, it spiked and then pulled back, still stuck below the prior high.
Currently, BTC is hovering around $84,500. The October 2 high of about $87,200 has not held.
First, expect selling pressure in the $85.1k–$86.8k area. Only if it holds above that zone will it have a chance to retest $87.2k. Higher up is around $88.7k, near the year’s opening level.
Downside support sits at $83.5k–$84.0k. If that breaks, watch $82.5k. If $82.5k is broken again, the short-term structure will weaken; then $80k would become the next target.
September’s new jobs and the approximate monthly average of the past year—around 41,000—are broadly in line with the current pace. The unemployment rate remains low. Before the end-of-month meeting, there’s still more data, so policy doesn’t have to be set in stone based on this single report.
This move looks more like it’s suppressing the probability of an October rate hike; the likelihood of a trend reversal doesn’t seem high. If BTC can reclaim $85k and hold above $83.5k, it could see a breakout!
By the way, what’s your belief?
#比特币涨至8.65万美元后回落
