7.3 Early Morning Thoughts


Last night's non-farm payroll data fell far short of market expectations, directly suppressing expectations of further Fed rate hikes. In the short term, there was a rally, with Bitcoin surging to 62,180 points and Ethereum testing 1,725 before both encountered resistance and turned downward.

At this stage, the bullish momentum for a rebound is exhausted, and the overall trading strategy remains focused on shorting at high levels.

Suggestions
Bitcoin: Short on rebound at 62,000 - 63,000 resistance, target 60,000 and 58,500.

Ethereum: Short on rebound at 1,720 - 1,760 resistance, target 1,650 and 1,600.
$BTC $ETH
BTC0.67%
ETH0.81%
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