Blog

Bitcoin returns to less than $ 111,000, although non -agricultural salaries missed


Main points:

  • Bitcoin disappoints from the fluctuations around American job data, which leads to diving less than $ 111,000.

  • BTC Price Action gives up all its gains while gold continues to reach the highest level ever.

  • Traders maintain a re -test of $ 100,000.

Bitcoin (BTCA volatile volatile at the Wall Street Open on Friday, as American job data was much lower than expectations.

Bitcoin price, markets, market analysis
BTC/USD scheme for one hour. Source: CointeleGRAPH/TradingView

The record in the labor market in the United States “is deteriorating quickly”

Data from Cointelegraph Markets Pro and Tradingvief BTC/USD offered to the highest levels in September 113,400 dollars before it decreased about 3000 dollars per hour.

The salary printing in August confirmed that the economy added 22,000 jobs – much lower than the expected 75,000.

The power of the US dollar decreased as a result, while gold reached its highest levels ever.

Xau/USD the four -hour graph. Source: CointeleGRAPH/TradingView

A reaction, the market participants agreed that the course has now been appointed to a major risk rear event: Federal Reserve Reduce interest rates At his meeting on September 17.

Data from the CME group Fedwatch tool He emphasized the possibility of such a result.

“This represents the second lower job report number since July 2021,” wrote a trading resource. The topic is on x.

“The labor market is deteriorating quickly.”

The possibilities of the possibility of targeted possibilities in September (screenshot). Source: CME Group

Copyi noted that job numbers for previous months have also been reviewed.

“The labor market is much worse than you think: June job number was not only negative, but the American economy had lost -357,000 full -time jobs in August”, “Founder of Adam Kubisi Add.

Bitcoin price targets double at $ 100,000 declining

Despite the positive effects of NFP printing for Bitcoin, the BTC price procedures have provided a significantly faded reaction.

Related to: Bitcoin set the 2024 bear trap before “Major Short Squeeze”: Trader

This was not lost in some of the market participants, who included the famous commentator Whalepanda.

Traders instead looked at the main resistance levels that still need to back down. The famous trader Daan Crypto traded the average of 200 points (SMA) and the medium -sized (EMA) in four -hour tires.

“4H 200MA & EMA is generally seen as a good momentum index for the short time frame to the middle. Both have been resistance during the past few weeks and is now tested again,” explained part of the X.

BTC/USDT Permanent Future Chart for four hours. Source: Daan Crypto Trades/X

“This is a very crucial level to restore more upward trend.” Agreed About the pre -NFP price area, adding that “the bulls will return completely” must return at a value of $ 113,000.

The landing views remained, with the investment of encryption and businessman Ted, a pillow, reiterating the expectations of the decline of about $ 100,000.

“Also, if this level does not stick, BTC may get the gap between 92 thousand dollars -94 thousand dollars,” to caution On a day.

BTC/USDT Planner for one day. Source: Ted Al -Wasayd/X

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.