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The bottom might actually be successfully formed! Retrace opportunities—think more, then still keep eating meat!
Over the past few days, it’s been all about the “buy on retracements, continue to profit” idea. BTC can be picked up on dips every day. I also reminded about ETH around 1550—if you follow along, you can still profit. Today BTC is again up by more than 2000 points. ETH didn’t trigger, but the idea is still correct. If you’re already on the trade, bring your take profit and stop loss protection to lock in gains. If you haven’t entered yet, continue to set up and wait on retracements!
BTC retraces to the 58000-58500 area to continue going long; defense is around 57500. Targets to watch: 59500-60000-60500-61000. If it breaks through, watch 61500-62000-62500-63000. If it continues to break through, move the stop loss and take profit—based on the situation!
For ETH, retrace to 1530-1560 to continue going long; defense is around 1500. Targets to watch: 1600-1630. If it breaks through, watch 1660-1700. If it continues to break through, move the stop loss and take profit—based on the situation!
Short positions can be tried, but please set your stop loss properly and control the risk. The ADP Non-Farm came in worse than expected for the smaller release. The official Non-Farm Payrolls will be announced tomorrow evening. The Non-Farm data released last month severely reduced the probability of a rate cut. Whether tomorrow’s official Non-Farm will also come in worse than expected like the smaller one is still unknown. Tomorrow needs special attention!