Non-farm data unexpectedly "cooled down"! The cryptocurrency market changed in an instant! How is your short position? The real test has just begun!

CN
1 hour ago

The non-farm data released in the evening showed that the seasonally adjusted non-farm employment increased by 57,000 in June, which is below the market expectation of an increase of 110,000, leading to a reduction in the market's forecast for Fed rate hikes. The market experienced a significant rise, with Bitcoin soaring to the 62180 level, while the earlier report had a short position for Bitcoin at 62400 that has not yet entered the market, and Ethereum climbed to the 1725 level.

The short positions given in the early report at 1680 to 1720 had an average price around 1700. Most of yesterday's short positions have likely been stopped out. For those still holding, it has been tough, but if following the hints in the article: in the current unstable fundamental situation, operating with light positions would be better. The average short price is approximately around 60400. It's been tough, and I deeply understand the pressure of holding positions 🙏. I believe there is still a chance to break even. Today's strategy remains to keep a bearish outlook unchanged.

Bitcoin started to pull back to around 61600 after hitting 62180, and Ethereum, after reaching 1725, has come down to around 1690. Today's focus is on the resistance at 62400 and the resistance near 1720 for Ethereum. If these levels are not effectively broken, continue to hold the short position.

Specific strategy:
Resistance for Bitcoin above: continue to short around 62400 to 63600, with the target focusing on the support below: 60800, 58500, 57500, 55500, 53500.

Resistance for Ethereum above: continue to short around 1724 to 1755, with the target focusing on 1680, 1610, 1550, 1510, 1425, 1380.

Still remember to participate with light positions, and do not have too large a position. Recent news will continuously stimulate the market, so everything should be based on light positions!

Pay close attention to the range of 62400 to 600, this area is quite critical!!!

Are your short positions still active? At what levels are they stuck? Or have you already stopped out? Will you be entering again today?

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