Bitcoin rose basically as anticipated, climbing all the way from $76,400 to $80,000. Tomorrow is Friday; I originally expected today’s rise to $78,400–$79,500 to be about it, but I didn’t expect such a powerful surge through $80,000. Trump’s tweets really are effective—the US stock market is going to rise, whether you believe it or not!
Also, if tomorrow’s unemployment rate and nonfarm payrolls come in line with expectations, the $81,400 level will basically be broken. If it breaks through, we’ll have to look at the previous high of $82,800. If the surge is strong, it could head to $83,000–$85,000. Once it reaches that level, we can consider a pullback.
If nonfarm payrolls and the unemployment rate come in below expectations, Japan hiking rates would be tantamount to the US cutting rates. Everyone already expects the US to raise rates, so if it doesn’t hike, that would instead be an upside surprise. In that case, the data would be bearish, but the price probably wouldn’t fall much, and the pullback would be limited.
I think the probability of tomorrow’s data being bullish is higher.
Today, I had Xiaocui analyze the market at the office, and the result was bullish. I said, “Good. Since the analysis says it’s going up, let’s act once the analysis is done!”
$BTC