Bearish news hits ahead of Nonfarm Payrolls, Bitcoin under pressure and oscillating, waiting for direction. Nonfarm countdown: Fed officials hint "rate hikes may be needed"



Looking at the current chart, Bitcoin briefly surged to around 61342 before encountering resistance and pulling back, continuing to oscillate near the 60000 level.

The 4-hour Bollinger Bands are narrowing, with clear resistance in the 60800-61300 area above, and support in the 58300-59500 range below. Bulls and bears are temporarily in a stalemate.

Market sentiment is fully focused on tonight's Nonfarm Payrolls data. If employment data is strong, it will further reinforce the Fed's rate hike expectations, and Bitcoin prices will likely see a new round of decline; if data weakens, rate hike expectations will cool, and Bitcoin will have a chance to retest previous highs.

At this stage, market uncertainty has increased significantly, with overall weak oscillation under a bearish environment. Prioritize caution in operations, wait for tonight's data to be released, then follow the market direction accordingly.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned