TradeCityPro | ATOMUSDT NFP Report Explanation
2025-01-11
Category: None

👋  Welcome to TradeCityPro Channel! 
Today, as the NFP news comes out, I want to provide an explanation about this report and analyze today’s altcoin, which I frequently use for futures positions.

The U.S. Non-Farm Payroll (NFP) report was released today, Friday, January 10, 2025. According to this report, 256,000 jobs were created in December, exceeding the forecast of 164,000. The unemployment rate also dropped from 4.2% to 4.1%.

This strong data indicates a continued improvement in the U.S. job market and may push the Federal Reserve to continue its tight monetary policies. As a result, the U.S. dollar strengthened, and interest in high-risk assets like cryptocurrencies decreased.

After the release of this report, the cryptocurrency market reacted , Bitcoin initially rose to $95,827 but then dropped back to $95,760.

🌐  Overview Bitcoin 

Before starting today’s analysis, let’s look at Bitcoin in the 1-hour timeframe. It has been almost lifeless since last night, with very small and weak upward candles.

With the announcement of the news, it experienced a volatile candle within a small range. Currently, it is below the $95,753 trigger level.

With this event, Bitcoin dominance continues to move weakly upward. If this continues and the market declines, altcoins will experience sharper declines. However, if Bitcoin rises, it is better to open a long position on Bitcoin or an altcoin paired positively with Bitcoin.


📊  Weekly Timeframe 

In the weekly timeframe, this coin rebounded from the $3.789 support with an engulfing candle and made a relatively good upward move, reaching the $10.149 resistance. This led to a rejection from entering the overbought zone.

Like most altcoins, no significant movement has occurred, and it has been range-bound within its box for a long time. The topic of stagnant funds is also relevant here.

For re-entry in spot trading, you can buy after breaking $10.149, and if you miss that, after breaking $15.738. If you are holding this coin, the logical exit point in the weekly timeframe remains below $3.789.


📈  Daily Timeframe 

In the daily timeframe, it has performed better than other altcoins. After breaking the $4.923 resistance, which was the top of its daily range, it made a good move up to $10.

Currently, while most coins have returned to their previous daily range boxes, ATOM is on a support level one step higher than the $4.923 support.

After being rejected from $10.451, it formed lower highs and lower lows. The last rejection was from the $7.447 resistance, leading to a lower high than $10.451 and making this resistance more significant.

If $6.115 breaks, we will see both lower highs and lower lows, and the price will move past the 0.618 Fibonacci support level, possibly reaching $4.923.

For a re-entry, conditions are similar to AVAX. After breaking $7.447, you can enter with a stop-loss at $6.115. For a more secure entry, wait for $10.451 to break, or look for reactions at lower levels.

However, if $6.115 does not break and the price stays in this daily range for a longer time, the $7.447 resistance will become more significant.


📝  Final Thoughts 

Stay calm, trade wisely, and let's capture the market's best opportunities!

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️