$BTC is facing another rejection from the key resistance zone, putting short-term bearish pressure back on the chart. A deeper pullback could be developing, but jumping into the move before confirmation would be risky. The Daily TF candle close remains crucial — a confirmed rejection could open the door for sellers to push $BTC toward lower support and liquidity levels. For now, patience matters. Let the market confirm direction before taking the next move. Stay focused on the Daily structure. Let’s go $BTC

Bitcoin consolidates around the $64,500 level, building momentum; tonight’s 20:30 nonfarm payrolls data will set the short-term direction! At 20:30 Beijing Time tonight, the U.S. July nonfarm payrolls report will be released. The current market consensus is for a previous reading of 57k and an expected reading of 80k, while the unemployment rate is expected to remain at 4.2%. Before the data is released, we have outlined three potential market scenarios for tonight’s figures: 1. Data falls significantly short of expectations (below 60k): Rate-cut expectations rise, supporting a rebound
If the employment data delivers a major downside surprise, it will reinforce expectations for Federal Reserve rate cuts, weakening the dollar and boosting risk appetite. After June’s weaker-than-expected nonfarm payrolls, Bitcoin climbed from $61,500 to nearly $64,000. If a similar move occurs tonight, it may break through the key $65,000 resistance level. 2. Data meets expectations (around 80k): Bulls and bears battle, consolidation continues
If the data comes in steadily, market sentiment will become more neutral, with focus quickly shifting to subsequent economic data. There will likely be a lack of one-way momentum, and Bitcoin will continue consolidating within the $64,000-$65,000 range. 3. Data significantly exceeds expectations (above 130k): Rate-hike concerns return, putting short-term pressure on the market
If the labor market proves exceptionally strong, it could spark concerns about “second-wave inflation,” bringing rate-hike expectations back. Under the dual pressure of a stronger dollar and rising yields, the short term will face a severe test, and the key $64,000 support level may be difficult to hold. Tonight’s nonfarm payrolls data will undoubtedly be the “catalyst” for breaking the current consolidation deadlock. However, it is important to stay clear-headed: after the sharp short-term volatility triggered by the data, the factors that will truly determine the medium-term trend remain the upcoming July CPI data and the Federal Reserve’s September rate decision. $BTC

$BTC is struggling at resistance again. A pullback could happen, but I’m not rushing the call. Let’s wait for the Daily candle to confirm the move before making any assumptions. #GateLaunches10AShareContracts