The employment data released last Friday showed that the overall employment has begun to cool down. Although the employment of some items are still rising, in any case, the Fed's continuous interest rate hike by 75bp has already played a role. Following this, U.S. stocks, cryptos, and gold all have significant gains on Friday. Macro sentiment gradually improved. However, the war between CZ and SBF began. From FTT to the whole crypto-market, almost all tokens fell sharply. People seemed to see another LUNA, and TA was invalid.The CPI for October will be announced on Thursday, and it is difficult to reverse the pessimism in the market.
The performance of ETH was not as good as BTC last week. Although there was a long green candle on Friday, it did not last over the weekend, and the magnitude of the correction was also obvious. If you look at 1h level, the gains for employment data has been erased on Sunday. Although the decline was low yesterday, it was also affected by the market today. Rising is interrupted.
Conclusion: Mostly falling. The stop of bulls and the strengthening of bears make the price more likely to fall. The advantage of ETH is that the previous rebound was stronger than that of BTC, so the bulls are not out of control at the larger level. We hold last week's support level at 1380 as prices are still some way from it and move down the resistance level to 1640.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
The performance of ETH was not as good as BTC last week. Although there was a long green candle on Friday, it did not last over the weekend, and the magnitude of the correction was also obvious. If you look at 1h level, the gains for employment data has been erased on Sunday. Although the decline was low yesterday, it was also affected by the market today. Rising is interrupted.
Conclusion: Mostly falling. The stop of bulls and the strengthening of bears make the price more likely to fall. The advantage of ETH is that the previous rebound was stronger than that of BTC, so the bulls are not out of control at the larger level. We hold last week's support level at 1380 as prices are still some way from it and move down the resistance level to 1640.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
