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taishiro
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There is a growing tendency to interpret weak employment data as bullish for crypto, largely because it could give the Federal Reserve more room to ease monetary policy. But that interpretation leaves out an important part of the equation: inflation.
The Fed can not afford to focus solely on a cooling labour market while inflationary pressures remain persistent. That is why the next employment report matters.
#FedHikeOutlookDivided
Web山大王
U.S. employment data hasn't been released yet. Many believe that the worse the employment figures, the less likely the Federal Reserve is to raise interest rates, making it easier for money to flow into risk assets. Does that mean cryptocurrencies are more likely to rise? 🤔️
But last time, new jobs were only 29,000, and the unemployment rate reached 4.2%. Some officials still think the tightening isn't enough. On one hand, employment is cooling down; on the other, inflation hasn't fully settled. Once next week's data is out, the market will be harder to predict.
$BTC is currently around $77,300, with RSI dropping to about 35, showing some short-term oversold conditions. Support is between $76,400 and $76,000; breaking below that could lead to further declines. Resistance is first seen at $78,300; only if it holds above that is there a chance to move toward $80,000.
$ETH is around $2,240-$2,250, with RSI also down near 31, indicating overall weakness. Support is roughly at $2,200 and $2,180, with resistance near $2,268. If it can't break through, it will likely continue to oscillate downward.
Data will only cause short-term emotional fluctuations; the position on the chart and fundamentals are what really matter for the medium to long term. There's probably no big market movement over the weekend; we'll just wait for next week's non-farm payroll performance.
#美联储官员释放加息信号，12月预期仍存分歧
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