Tonight, the unemployment rate and non-farm payrolls for September will finally be announced…

But in reality, it doesn't have much impact on the mid-term downtrend…

Old Powell said that October is for defensive rate cuts, and December may not necessarily see a rate cut. The market has already priced in a significant decline in rate cut expectations.

In this wave of Bitcoin's decline, I only see support around $91,000 to $94,000.

If there is some irrational panic selling, then the lowest might be around $88,000…

I also don't think it can drop straight down to the support near $70,000 in one go…

Currently, it seems that there is no need to panic too much as long as it stays above $88,000.

After all, it has already dropped more than $20,000 from $116,000 in one go…

There is no one-step market; even in a one-sided trend, energy needs to be accumulated along the way, whether it's upward energy or downward energy.

Of course, the premise is within the key support and resistance zones.

So, at the current price level, we can expect a consolidation and recovery within a red circle.

However, it is highly likely that this is not the end of this round of decline.

It is clear from the chart that I continue to see a bearish mid-term trend.

Good luck to everyone (^.^)Y Ya!!

BTC

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