Thursday night market review. Thursday, a simple recap.

Today's intraday market maintained a range-bound oscillation overall. In the early morning, long positions rose from around 59500 to around 61100, then pulled back to around 60100 in the afternoon before rebounding again to around 61400. Tonight ushers in the key non-farm payroll data, with significant market volatility and back-and-forth washouts. Regardless of your grasp of the trend, strictly pay attention to risk control and defense.

The following is solely my personal chart observation, purely technical discussion, and does not constitute any buy or sell advice:

Macro news: The preliminary data on Monday, and yesterday's ADP employment data (small non-farm) both came in surprisingly cold, lower than expected. Overall U.S. inflation has eased, which is bullish for the market. As a leading indicator for non-farm, tonight's non-farm data is likely to be lower than expected or in line with expectations. However, also note that if it is higher than expected, it would be bearish, and also pay attention to whether wages are higher than expected. Then comprehensively evaluate the market trend. Additionally, watch for volatility caused by regional geopolitical tensions.

Chart data: Currently, the daily chart shows increasing long volume forming two consecutive bullish candles, with the trend gradually moving upward toward the middle Bollinger Band. On the 4-hour timeframe, long volume is increasing and price is running above the upper Band. The hourly chart shows a rising wedge pattern.

Focus on the upper resistance around 61700-62400. A strong breakout should target around 63200. Below, focus on the 60500-61400 range fluctuation.

Support below: 60600-60000. A strong breakdown should watch the 59500-59000 range.

For altcoins, focus on pressure around 1665-1685 above, and support around 1615-1585-1545 below.

Market volatility favors longs over shorts. You can go long first then short. If upper resistance is not breached, you can also position short at highs.

The market is ruthless, but the world has love. This content is Zhao Gongzi's personal study and review, purely personal market discussion, and does not constitute any investment advice. Before trading, be sure to make a plan and manage risk, and view market volatility rationally. If you have any questions, feel free to ask.

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