Tonight, the market will release major non-farm payroll data, which is the key focus today. Considering that the ADP and initial jobless claims data released this week have been bearish for the price of cryptocurrencies, the non-farm payroll data tonight is likely to be better than expected.

If the data performs strongly, the probability of the Federal Reserve cutting interest rates in March could drop to zero, and even expectations for a rate cut in June may cool down. This change in expectations usually drives the US dollar to strengthen and Treasury yields to rise, which can lead to capital outflows from risk assets like Bitcoin, putting downward pressure on prices. Therefore, if you plan to go long at low levels tonight, it’s advisable to remain cautious.

From the market chart perspective, if the white session continues to stay volatile, be alert to a possible scenario: the market quickly pushes higher to create a “trap” effect, then reverses downward, resulting in a waterfall decline.

After the trap and rally between 71,500–72,800 for Bitcoin, a waterfall follows! The final direction is downward! Our target is 68,500!
 
After the trap and rally between 2,100–2,140 for ETH, a waterfall follows! The final direction is downward! Our target is 1,980!
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