Yiming's Trading Experience All content in this article is personal opinions and is for learning and communication purposes only. It is not used as an investment basis and should be operated based on it at your own risk
Yiming's Trading Experience
All content in this article is personal opinions and is for learning and communication purposes only. It is not used as an investment basis and should be operated based on it at your own risk.
The non agricultural data released last night showed that in September, the number of non agricultural employment increased by 336000, a significant increase from the expected 170000 and far higher than the 187000 in August. The unemployment rate remained unchanged from August's 3.8%, slightly higher than the expected 3.7%. Based on this data, investors have more reason to believe that the Federal Reserve will maintain high interest rates, and even further raise interest rates in the face of high inflation. So after the data was released, they quickly dived.
However, after the dive, the market did not show a unilateral decline or low level sideways trend, but instead recovered the decline, with both the pancake and the ether reaching intraday highs. Why is this?
It is directly related to the cycle. On the 1st of this month, Yiming emphasized in the article that the adjustment time is about 5-8 days. Yesterday was the 5th day for Ethereum, and Ethereum has already recouped 80% of the previous stage's increase. The Crown Prince has also basically made a correction, and the time has come. The support level below has also been tested, and the rest is waiting.
From a daily perspective, the next operation should be based on a more low approach, but not blindly more, because the four hour K line receives an inverted hammer line, which usually needs to be adjusted in a short period before starting to rise. The expected adjustment time is around 12 hours.
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