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Overnight, the US stock market opened high and fell sharply, with all three major indexes falling. The Nasdaq fell 2.3%, the S&P 500 fell 1.37%, and the Dow fell 1.21%. Most large-cap tech stocks fell, with TSL and Nvidia falling more than 6%, Intel falling more than 5%, Apple and Amazon falling over 1%, and Google and Microsoft falling slightly. The US Department of Labor announced the highest number of initial jobless claims since November 2021, and the July production index fell to a four-year low, once again sparking concerns about a US economic recession. The encryption market is experiencing another roller-coaster ride, rebounding across the board after yesterday's sharp fall!


BTC on the daily candlestick chart has had four consecutive declines, and yesterday it was pumped up without a backtest under short squeeze. The upper side was under pressure and fell back under the resistance of the lower channel in the early stage. The recent market performance is more stimulated by safe-haven news, which is generally not long-lasting. Once the heat subsides, it is natural to see a Rebound. In the early morning, it plunged to the 62250 area and rebounded after bottoming out. As the volume of short positions gradually decreases, the current price continues to rise and repair, and the three moving averages are in a meandering upward trend. In the short term, there is still a demand for upward exploration in the small cycle rhythm, and it is necessary to follow the breakthrough situation above the resistance at 65500!


ETH Square failure to test 3250 in the early trading session, it has been declining all the way. Afternoon retracement to the 3135 level, then Rebound to 3206 and fell under pressure. In the early morning, it probed down to the 3075 level and encountered strong Rebound after encountering support, the market today, Friday, is very important, coupled with the large non-agricultural data, and today's trend will determine the expectations for next week's trend. Currently, on the short term, it is also continuously rising within 1 hour, and the short term follow longs has extended to the situation of breaking through the pressure of 3220-3250.
BTC0.91%
ETH-0.53%
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