#非农数据超预期 Mixed employment data brings both good and bad news. Bitcoin and Ethereum's performance is average. Can they test the 80,000 level again?

Last night, the US November non-farm payrolls showed a slight increase in employment that exceeded expectations, but the unemployment rate unexpectedly surged to 4.6%, a four-year high! At the same time, October non-farm employment saw the largest decline in five years, and retail sales unexpectedly stagnated. After the contradictory employment data was released, the crypto market experienced intense volatility in a short period, but the amplitude was not large. Bitcoin rapidly surged to 88,000, then dipped to 86,000, followed by a quick rebound to 88,100, then fell back. Since early morning, prices have been fluctuating within the 87,000 to 88,000 range.

On a macro level, the mixed non-farm data has increased market expectations for the Federal Reserve to further ease monetary policy. The probability of a rate cut in March next year has also slightly increased. This expectation to some extent boosts Bitcoin prices. However, on the eve of the Bank of Japan's rate hike, market panic remains strong, and the rebound strength is insufficient.
From a technical perspective, the daily chart shows that the lower band support has led to a rebound, but the strong death cross of the moving averages above suppresses upward movement. The four-hour MACD indicator is shrinking, indicating a potential rebound, but the RSI is about to enter overbought territory, and the hourly momentum is also decreasing. After a rebound and correction, prices are likely to decline again with weak oscillation. Today, short-term resistance above includes the four-hour midline at 88,500 and the 90,000 level. Short-term support is temporarily at 86,000 and yesterday’s low around 85,000.

Investing involves risks. Enter the market cautiously. The above opinions are for reference only. Risks are borne by the investor!