The current position is still relatively awkward, with an average risk-reward ratio. It is tradable but not an optimal position; patiently waiting for the resistance zone to show clear signs of selling pressure would offer a better risk-reward ratio. Tomorrow’s nonfarm payrolls could bring a major market move.$BTC $ETH

In the afternoon, Bitcoin tested the 77000 level twice and quickly recovered each time. After the second test, the rebound high broke above the previous high, forming a “higher-high” pattern. The bears failed to open up further downside on both attempts, with momentum clearly weakening. The bulls eventually launched a counterattack, pushing the price up to around 78100. The price is currently moving around 78000, with the short-term bottom structure nearing completion and the bulls temporarily in control. Structurally, the 77000 level has repeatedly attracted effective buying support, establishing a solid foundation below and gradually lifting the short-term bottom. If the price can stabilize above 78000 and break through the 78400-78500 area on increased volume, further upside will open up, with a medium-term target of 79000-80000. The overall pattern remains in the pullback-and-accumulation phase of a bullish trend, with no fundamental change in the trend direction. The 76800-77000 range is the key near-term support zone. Maintain a buy-on-dips bias as long as it holds. Consider establishing long positions around 77000, with protection below 76600; target 78400 initially, with a breakout allowing the position to be held toward 79000-80000. If the price fails to break through the 78500 resistance after repeated attempts, consider reducing the position to lock in profits, re-entering if a pullback holds support, and making further adjustments if support breaks. #Gate用户突破6000万 $BTC ‌

Initial jobless claims hit at 20:30 tonight: Bitcoin/Ethereum/Gold/SanDisk market scenario analysis✨ Two important U.S. economic data releases will be published at 20:30 tonight. Initial jobless claims are the core focus, with the previous reading at 203,000 and market expectations at 205,000. The data will directly stir expectations for Federal Reserve rate cuts. Bitcoin, Ethereum, gold, and U.S. stocks will all see sharp short-term volatility, so let me first explain the three scenarios clearly. 📊Three scenario analyses 1️⃣ Actual reading > 205,000 (jobless claims higher than expected, dovish) A weakening labor market will reinforce rate-cut expectations: ✅Bitcoin and Ethereum: Bullish, likely to surge and rebound, with a short-term move higher ✅Gold: Strongly bullish, with a chance of moving higher ✅SanDisk (SNDK): As risk sentiment improves, it will follow U.S. stocks in rebounding 2️⃣ Actual reading < 203,000 (jobless claims lower than expected, hawkish) Employment is stronger than expected, rate-cut expectations cool, and the dollar strengthens: 📉Bitcoin and Ethereum: Come under pressure and retreat, with a rapid sell-off and potential downside wick 📉Gold: Bearish, with increased risk of a short-term downward correction 📉SanDisk: Follows U.S. stocks lower and faces correction pressure 3️⃣ Actual reading falls between 203,000 and 205,000 (neutral) The data will not differ significantly from expectations and will not change the broader direction: The market will first move sideways briefly, quickly sweeping stop-losses in both directions. A whipsaw is the most likely scenario, after which the market will return to its underlying technical trend. 💡Mu Han's personal thoughts A reminder to everyone: Do not take a heavily leveraged position in advance to gamble on the result. Risk control comes first! Data-driven market moves most easily produce a reversal after the release. What appears bullish may first trigger a wave of selling, while what appears bearish may first trigger a wave of buying after the release. The prudent approach is to wait for the data, observe for a dozen or so minutes, and see where the market's real capital is flowing before entering in the direction of the trend. The above is only Mu Han's scenario analysis and is not a market conclusion.#Gate用户突破6000万 $BTC