The current 4-hour bearish structure is complete. Even though the price rebounded to 79,550, it remains pressured below the 80,000 level, and the trend has not changed. Tonight’s non-farm payroll last value is 178k, and the expected figure is only 62k. With such a very low threshold, the data is very likely not to come in worse than the expectation. However, remain alert to the risk of a short-term pullback caused by rising rate-cut expectations.

If the data is favorable and leads risk assets to gain volume, pushing Bitcoin back to reclaim 80,000, the short-side logic should be temporarily avoided; otherwise, if the pullback lacks strength or the decline continues, continue to watch the target zone of 78,800-78,500. $BTC $ETH