Master Discusses Hot Topics:

The non-farm payroll data released last night for September exceeded expectations, with an increase of 254,000 jobs, far surpassing the expected 150,000. The unemployment rate dropped to 4.1%, and the data for the previous two months was also significantly revised upward, alleviating concerns about data quality.

Temporary unemployment has decreased, further disproving recession fears. Non-farm data has become a new anchor for the pace of interest rate cuts, so the possibility of a significant rate cut in November has diminished, with the market expecting a 25 basis point cut.

In the medium to long term, wage growth may drive inflation in the service sector, increasing the risk of inflation rebounding, which could affect the pace of interest rate cuts. Powell has clearly stated that there is no rush to cut rates quickly, indicating that he has expectations regarding the non-farm data, and the market's reaction is guided by his statements.

Over the past year, U.S. stock risk assets have shown a significant correlation with the U.S. dollar index. The underlying logic may be that, in addition to interest rates, the dollar can also reflect the strength of the fundamentals.

A strong dollar indicates a strong economy. The market's concerns about recession are low, which is favorable for risk assets. Conversely, the essence is still about confirming or disproving the recession.

Master Looks at Trends:

After the news was released at 8:30 PM last night, there was actually not much volatility. As mentioned in yesterday's article, everything depends on the plans of the main players and market makers using the news; the lack of volatility is ultimately due to insufficient retail trader participation and trading volume.

In the evening, the long positions that Master had set up did not reach the entry point, and after 9 PM, the price rose to nearly 62K. After reaching the entry point for short positions, the price dropped to around 60.7K, and the short positions that Master had pre-set achieved a profit of 1300 points.

Due to the significant increase in U.S. employment growth exceeding expectations, concerns about economic recession have eased, leading to a rebound in Bitcoin.

The release of this employment data has raised the possibility of a slowdown in the pace of interest rate cuts in November, and due to the decline in interest rate forecasts, we can expect an influx of risk assets.

Resistance Levels Reference:

First Resistance Level: 62400

Second Resistance Level: 63200

If the price breaks through the first resistance level and enters the area of previously established highs, a bullish outlook can be maintained.

Before breaking through the first resistance level, attention should be paid to whether the downward trend line is broken. If the downward trend line is broken, consideration can be given to entering short-term positions.

Support Levels Reference:

First Support Level: 61700

Second Support Level: 61200

The first support level can be set as a short-term support level and is also an area that needs to be defended during a rebound.

The area around 61.5K to 61.7K is also a past high-pressure area, which can serve as a target area for short-term entry points, while 61.2K is also an area where a low point was formed.

Today's Trading Suggestions:

Today's trading is expected to show a sideways trend due to the weekend, so do not increase the number of entry points; instead, one should wait and observe before entering at the checked support levels.

10.5 Master’s Short-term Pre-set Orders:

Long Entry Level Reference: Buy in batches in the range of 60900-61200, with a stop loss of 500 points, target 61700-62400

Short Entry Level Reference: Sell in batches in the range of 62900-63200, with a stop loss of 500 points, target 62400-61700

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). For more real-time investment strategies, solutions, spot contract trading techniques, operational skills, and knowledge about candlesticks, you can add Master Chen for learning and communication, hoping to help you find what you want in the crypto space. Focused on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% following the trend; daily updates of macro analysis articles across the network, mainstream coins, and altcoin technical indicator analysis, as well as spot medium to long-term price prediction videos.

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