#encryption Market Analysis On August 2, the recent disappointing non-farm payroll data triggered market panic about economic recession. Although the increase of 114,000 in non-farm payrolls is not ideal, it can still be considered 'reasonable.' If the US economy rapidly weakens, a significant interest rate cut by the Federal Reserve in September will become a typical response. Due to growing concerns about a US economic recession and poor performance of technology stocks, gold reached a new high, and stock markets in Europe, Asia, and the US fell sharply on Friday. Japan's stock market experienced its worst day since the COVID-19 pandemic in 2020, and concerns about a possible US recession triggered dumping in global stock markets. Furthermore, the poor employment report released last Friday showed that the US job market is rapidly cooling down, pushing up the unemployment rate and exacerbating the dumping behavior. The Nasdaq index fell nearly 3%, and Japan's Nikkei 225 index experienced a big dump of 5.8%, the largest single-day fall since 2020. Major European stock indices also fell across the board, with technology stocks falling to a six-month low. The encryption market was not spared either, falling for several consecutive days, and any news had no effect. The overall market has started to sink into panic about economic recession. Perhaps only when the economy officially starts to cut interest rates and implement loose policies, will it bring about new Favourable Information for the market. Daily candlestick level trend: The daily candlestick level fell rapidly, with strong support near 60,500 for a rebound and resistance near 63,000. 4-hour level trend: The trend fell rapidly and is still in a falling trend. Support is located near 60,500 and 59,700, and there are no significant reversal signals for now. Resistance is near 62,500. BTC's recent big dump is a normal phenomenon on the daily level, mainly due to political uncertainty in the United States. The game between Trump and Harris, combined with Harris's lack of qualifications and unsupportive stance on cryptocurrency, makes it unlikely for her to win. However, this still has a significant impact on cryptocurrency and the stock market, and there may be more instances of contract liquidation in the near future. The reason for the market collapse is not only politics, but the recession panic it triggered is even more severe, causing global stock markets and the encryption market to collapse. Pay attention to the recovery over the weekend and next week, avoid contract operations, and don't leverage yourself. Purchase spot. Intraday pullback: The main theme for the intraday trend is still falling, with support at the higher level for a rebound and resistance near 62,800. The bottom support is near 60,500. First, observe the rebound within the day and then consider the situation of higher-level resistance. In the spot market, calmly endure this difficult period in encryption history and remain calm in the face of any situation. #加密货币 BTC #市场崩溃 economic recession #交易 investment