Zhou Yanling: 1.11 Non-Farm Payrolls Market Bottoming and Rebounding, Weekend to Continue Weak Fluctuations
On Friday, the non-farm payroll data negatively impacted the market as expected, leading to a significant drop. However, the market's movement was unexpected; despite some pullback, it ultimately formed a bottoming and rebounding situation, possibly due to the strong presence of bulls. The bearish impact from the non-farm data seems to be just a temporary shakeout. Currently, the weekend market is basically in a fluctuating rhythm. From a technical perspective, on the hourly chart, several candlesticks with long upper and lower shadows indicate market uncertainty and volatility. The current MACD histogram is in the negative zone, and the DIF line has crossed below the DEA line, suggesting a possibility of further weakening in the short term. The RSI is currently at 47.1, close to a neutral position, but it previously entered the overbought zone before retreating, indicating some selling pressure. The price has now fallen below the EMA7 and is testing the support of EMA30. If it continues to decline, it may test the longer-term moving average EMA120. Therefore, in the short term, the weekend strategy can focus on weak fluctuations, and next week we can wait for opportunities to bottom-fish and continue the bullish rebound layout. (I was sick a few days ago, so I missed updates for a few days. The flu virus is quite severe recently, so all coin friends should take extra precautions and take care of themselves and their families.)
Zhou Yanling 1.11 Bitcoin Trading Strategy:
Short at 95000-94300, stop loss above 95800, target 93400-92700, continue to look for a decline towards around 91700.
Long at 92200-93000, stop loss below 91500, target 94000-94700, continue to look for an upward move towards around 95600.
Zhou Yanling 1.11 Ethereum Trading Strategy:
Short at 3300-3260, stop loss above 3360, target 3200-3150, continue to look for a decline towards around 3050.
Long at 3140-3180, stop loss below 3100, target 3270-3330.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on unfreezing, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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