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From today's market rhythm, the rebound driven by Nvidia's earnings report at 4 AM has basically run its course. Although Nvidia's earnings provided a bit of emotional repair for the US stock market in the short term, Bitcoin is still firmly held below the 4h EMA20 - a typical "rebound does not change the weak structure."
However, it's not all bad news. The 89k level has been tested three times without breaking, indicating that there is a group of "passive buyers" below who are not very optimistic but also unwilling to sell off further. This structure of "resisting decline but not rebounding" usually means that the market is waiting for a trigger point.
And this trigger point is likely tonight's non-farm data.