Last night's non-farm payroll data was truly "bomb-level." The number of new jobs in August was only 22,000, not even a fraction of the expected 75,000, and the unemployment rate soared to 4.3%.
Even Renaissance Macro's Neil Dutta bluntly stated: "The hawks have completely lost their temper." Remember in 2019, when the hawks' stubbornness led to a 38% drop in BTC? This time, however, is completely different. The non-farm payroll report has silenced the hawks, making a September rate cut a near certainty.
Looking at the market again, #BTC daily line closed with a long upper shadow yesterday, and those who chased the long position were trapped. The upper short position is still strong, and it is still below the lifeline. The overall trend is still downward. It is expected to fluctuate sideways in the short term, and the upper pressure is at 113000.
On the hourly chart , the MACD golden cross suggests a small rebound. A pullback to 110,600 could be considered for a short position, with a target of 111,600 and a stop near 110. Weekend trading volume is light, so volatility is likely to be limited. The three-day moving average suggests a higher bottom, weakening bearish momentum. If it can hold above 112,000, a new upward trend could begin.
#Ethereum remains volatile on the daily chart, but fluctuations in volume suggest that bearish momentum is weakening and bullish momentum is strengthening. Currently, the price is fluctuating near the first support level. Looking at the 4-hour chart, despite a large-volume bearish candlestick pattern last night, the price did not continue to decline or break below the congestion zone, suggesting that bearish sentiment is not particularly strong. Combining the daily and 4-hour charts, Ethereum is more likely to rise than fall.
In 2021, despite a 10% drop in $BTC, Altcoin unexpectedly bucked the trend and surged by +3921%...
Looking back now: Oh my god, is history going to repeat itself?
In September, it’s time for Altcoin to explode, right?!
SOL
Solana has already garnered significant attention from Wall Street. Many institutions are frantically buying up SOL, even at an average cost of $202.76 USD, voluntarily acquiring 196,000 tokens in one go—a price significantly higher than what retail investors typically pay. With even the largest investors showing such confidence, what are we afraid of? Furthermore, SOL's market capitalization is currently only one-sixth of ETH's, making it significantly undervalued and offering significant potential for growth. The future of SOL is truly exciting!
Communication + Q: 3806326575 ADA
#ADA has become a hot topic again, and everyone is wondering whether it can reach $5 in this bull run.
Honestly, Cardano has a strong community, an ecosystem, low transaction costs, and solid fundamentals. As long as the BTC doesn't collapse, ADA's upward trajectory remains strong. Smart contract applications are expanding, developers are active, and the number of stakers is growing. Furthermore, if institutions take notice, capital inflows will provide a significant boost. While there will undoubtedly be challenges, such as regulation and competition, if ADA truly rebounds, it could be one of the highlights of this bull market.
SUI
#SUI has finally broken out of its descending wedge pattern recently, breaking directly through a key technical level and resuming its uptrend.
Bulls are now targeting $3.50. Holding support has stabilized the market, and market sentiment is improving. $3.20 is strong support in the short term, while $3.35 is a key support level. A break above this level could attract further capital. The RSI and MACD are both strengthening, suggesting the SUI is not over yet, with new highs likely to follow.
XDOG has been strong on the chain recently. I have done three things recently: buy $OKB, buy $XDOG, and promote $XDOG.
Mi Ma receives + V: Mixm5688 X chain has recently frequently issued large MC memecoin. Whether it is ground promotion or various models, they are constantly innovating. #DOGSHIT has also been attracting high popularity. With many newcomers entering the market, the potential is unlimited.
Gouzi$XDog Strong support in 4 hours, bullish in the future, stabilize at 10 million, the next target is 50 million.
Recommended Articles: Bitcoin Turns Upward, Is the Selloff Over? ETH Sees New Capital Investment! Is BGB Following OKB's Successful Path? BSC Chain large MC memecoin, Are You Following?
The market moves in waves, and it’s easy to get lost if you go it alone.
If you want to seize the next wave of doubling opportunities, welcome to join my circle and watch the market, communicate, and buy the dips with a group of old friends! Together we can avoid detours and outperform the next bull market! 📬 V: Mixm5688
