Asian Stock Markets
The in Japan dropped 0.6% in morning trade, while the rose nearly 0.23%. As of 11:06 p.m. EST, the index rose 0.12%, and Seoul’s had hopped 0.42%. Hong Kong’s fell 0.08%.
US NFP Summary
The could not have come at a better time for investors concerned about rising inflation and the Fed’s hawkishness in the coming months. The rising job numbers indicate that the economy is recovering, but at a slow enough pace that the Fed is unlikely to withdraw its support.
Investors should continue to pay close attention to the price. So far, the price is staying above the 30K price level which confirms that the Bitcoin bulls are still in control of the price. If the price begins to drop below the 30K price, it is likely that we may see the Bitcoin price falling towards the 25K.
At the same time, it is very encouraging to see the price challenging the 34K price level and if the price moves above the 35K resistance, the likely chance is that we may see the Bitcoin price moving towards 40K.
Overall, Bitcoin investors should continue to pay attention to the Bitcoin price chart and the most important price point is the 50-day SMA on the daily time frame. The moment we will see the Bitcoin price moving above this price level, we could see some more bullish bets coming into the market.
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