US “Small Nonfarm” Employment Numbers Fall Short of Expectations

The US ADP employment change for November recorded a decrease of 32,000 jobs, the lowest level since March 2023, while the market had expected an increase of 10,000 jobs.

From the current market perspective, on the 4-hour chart, BTC price tested the 93,900 level and was rejected, pulling back with two consecutive bearish candles and currently stabilizing around the 92,800 level. Bollinger Bands continue to expand, indicating no significant change in the short-term trend. The MACD fast and slow lines are below the zero axis and continue to turn upwards, with the green histogram showing sustained volume, suggesting that the short-term trend is still dominated by the bulls. On the 1-hour chart, Bollinger Bands are in a converging pattern with all three bands still trending upward, indicating reduced short-term volatility and signs of range-bound movement. After facing resistance in the afternoon, BTC entered a period of slow pullback consolidation. However, this pullback is not sufficient for a reversal, as bullish momentum has not been fully released yet. The slow correction serves as a buildup for the next breakout. Therefore, the evening trading strategy is still to focus on buying on pullbacks.

Buy BTC near 93,000, target 94,000
Buy ETH near 3,080, target 3,120