6.5 Jiang Wei Analysis - Non-Farm Data Approaches, Can It Accelerate Bitcoin Bearish Downtrend

Only those who lie forever in the mud pit will not fall into it again. With uncertainty ahead and great troubles behind, it is wise to prepare in advance rather than dig a well when thirsty. Do not often feel unfortunate; many people are suffering more than you. It is not that the road has come to an end, but that it is time to change. No matter how good the strategy is, execution is a hard injury; no matter how beautiful the wish is, implementation is progress.

This week, Bitcoin's trend is leaning towards a volatile downward movement, with the rebound high gradually retreating. From the attached chart points a, b, c, d, we can see that the price is at a critical moment. Whether the non-farm payroll data tonight can accelerate the price movement and achieve a quick breakout is uncertain. Looking at the four-hour level, the current market is relatively weak compared to previous trends this week. Some may not like this kind of market, but it does not rule out that some may enjoy it, as this trend provides very good entry opportunities for both bulls and bears. In fact, it is also a good opportunity for flipping positions. To make a long story short, let's continue to look at the chart. The attached MACD indicator shows that the bears are starting to gain momentum, with the fast and slow lines turning downwards, indicating a strong bearish sentiment. Therefore, today we may consider shorting on the rebound. If retail investors cannot understand this, do the big players not understand it either?

So today, we can look for a bearish trend in the 105200-105500 area, targeting 103100, and if it breaks, we can look around 100600.

Ethereum's recent rebound strength is very weak, with fluctuations not exceeding a hundred. Yesterday, the highest rebound was 2679, and it fell. To rise above 2700, it seems necessary to consolidate through a downward movement first. Therefore, synchronizing with Bitcoin, we can look for a bearish trend around 2650-2670, with a long-term target at the 2470 level.

Follow the public account, "How to Relieve Worries, Only Jiang Wei."

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