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The latest economic data has just been released. The ADP employment data was expected to be 47,000, but the actual figure came in at 41,000, which is a positive signal. Corresponding to the crypto market, let's take a look at Bitcoin's rhythm today.
Yesterday's market movement was quite good. From a short position at 94,400 above to a long position at 91,200 below, the range spanned nearly 5,000 points, providing traders with plenty of opportunities.
Today, Bitcoin's resistance level remains in the 94,300-94,000 range. This line continues to serve as an important upper resistance. Caution is needed if it reaches this area. The support below is around 91,000-91,300, which is relatively solid. When the market drops to this level, a rebound is usually expected.
The key point is that, due to the favorable ADP data, the short-term downside space is not very large. This means that if you're shorting, profits may be limited; if you're going long, you should be cautious of resistance above. Regardless of the direction, stop-loss and take-profit levels must be set properly. Market changes happen quickly, and managing risk is always the top priority. Keep up with the rhythm and control risks to participate in the market steadily.