Market Analysis and Trading Recommendations for August 8th

Last night's non-farm payrolls highlights: July's non-farm payrolls unexpectedly decreased by 23,000 (expected increase of 80,000), and the unemployment rate fell to 4.1% (due to a decline in the labor force participation rate). The data reinforced expectations of an interest rate cut, weakening the US dollar. BTC briefly surged to 65,300 before retreating, with ETH following suit. Weekend assessment: The logic of an interest rate cut is bullish in the medium term, but liquidity was poor over the weekend, with significant selling pressure above 65,000, making a pullback likely. Market sentiment this week is weak, and a sharp drop should be anticipated. Strategy suggestions: • Bullish: If BTC breaks through 65,500 with significant volume and holds, a small position can be taken; if ETH holds above 1,890, the outlook is bullish, with a target of 1,940. • Defensive: If BTC fails to break through 65,000 after a prolonged attempt, reduce positions on rallies and re-enter at support levels of 63,500-64,100; if ETH breaks below 1,890, the target is 1,870. Key levels: • BTC support: 63,500 / 64,100, resistance: 65,000 / 65,500 • ETH support: 1,890 / 1,870, resistance: 1,940 / 1,980 Weekend Notes: Strictly control position size; high slippage; pay attention to unusual price movements from Sunday night to Monday morning; if the non-farm payroll data continues next week, be aware of potential revisions to expectations by Fed officials' speeches. Our internal community provides precise entry and exit strategies; to copy our trades, please check my homepage. All trades are live; you can check the win rate in previous articles. Copying is available without any barriers to entry.