BTC jumped out of the narrow range last week, opening more upper space. However, a reversal signal might only occur when it grasps $21323.77. Now the price is under the pressure of the first resistance depicted on Sep 30, as a result of the released non-farm payrolls.
$19882.81 is a fighting target between bulls and bears. The early market (UTC+8) fluctuates between $19296.85-$19882.81. (Breakdown $19292.85 will the price come down to $18516.05; breakup $19882.81 will it climb to $20463.36.)
The data on US non-farm payrolls and unemployment rates prepared a condition for continuous interest hikes. Crypto markets thus are all under liquidity pressure at the moment.
The general data shows a divergence between the price and its tendency: short-term capital bets on a bounce while long-term capital (partially) is left. Consequently, short-term performs strong with fund inflows but long-term support weakens.
We’ll keep monitoring the data with fund flows and macro changes.
$19882.81 is a fighting target between bulls and bears. The early market (UTC+8) fluctuates between $19296.85-$19882.81. (Breakdown $19292.85 will the price come down to $18516.05; breakup $19882.81 will it climb to $20463.36.)
The data on US non-farm payrolls and unemployment rates prepared a condition for continuous interest hikes. Crypto markets thus are all under liquidity pressure at the moment.
The general data shows a divergence between the price and its tendency: short-term capital bets on a bounce while long-term capital (partially) is left. Consequently, short-term performs strong with fund inflows but long-term support weakens.
We’ll keep monitoring the data with fund flows and macro changes.