The master said about the coin: The initial jobless claims data on June 21 exceeded expectations, why did Bitcoin not rise but fall instead?

The cryptocurrency market, after two days of low-level fluctuations and declines, surged to around $66,492 at 4 PM yesterday (20th), consistently holding the $66,500 mark without breaking through. However, the data released at 20:30 regarding the number of initial jobless claims in the U.S. for the week ending June 15 showed a figure of 238,000, compared to a previous value of 243,000 and an expected value of 235,000. The actual value was higher than expected, which is bullish for cryptocurrencies, but contrary to expectations, Bitcoin entered a waterfall decline mode after the data was released, completely reversing its intraday gains and briefly falling below the $65,000 mark. As of the time of writing, the price was $64,567, with a decline of approximately 0.53% in the last 24 hours.
Bitcoin 4-hour chart

According to the current 4H Bollinger Bands indicator, Bitcoin's price is currently between the middle and lower bands, and is close to the lower band, indicating that the current price is at a relatively low position with the potential for a rebound. The Bollinger Bands are relatively stable, with no significant expansion or contraction, indicating that the current market volatility remains in a relatively stable state.
Secondly, based on the current 4H KDJ indicator, both the K and D line values are below 50, and the J line value is at a lower position, showing an oversold state, which suggests the possibility of a price rebound. The K and D line values at low levels show signs of forming a golden cross, which will further confirm the possibility of a rebound.
Finally, according to the MACD indicator in the 4H level, both the DIF line and DEA line are below the 0 axis, with the DIF line crossing above the DEA line, indicating potential bullish signals. The current MACD green histogram is gradually shortening, suggesting further upward momentum in the short term.
Bitcoin 1-hour chart

According to the 1H Bollinger Bands indicator, Bitcoin's price is currently running between the middle and lower bands, showing downward pressure. The price is close to the lower band, indicating strong support at the lower band, suggesting a trend of rebound in the short term.
Secondly, based on the 1H KDJ indicator, the current K and D line values indicate an oversold state, with the possibility of a rebound, while the J line value is at a lower position below 0, indicating extreme market overselling, further confirming the possibility of a rebound.
Finally, according to the 1H MACD indicator, the current DIF line is running below the DEA line and below the 0 axis, indicating that the market has downward pressure, with the MACD green histogram gradually lengthening, indicating an increase in selling power.
Comprehensive analysis: Based on the 1-hour and 4-hour charts, Bitcoin may currently be in a consolidation phase in the short term, with indicators showing certain signs of rebound. If multiple indicators form a golden cross and the middle band of the Bollinger Bands is effectively broken, Bitcoin is expected to experience a rebound; otherwise, the market may continue to maintain a consolidation or downward trend.
In summary, the following suggestions are provided for reference:
Go long on Bitcoin around 64,500, targeting 65,350, with a breakout looking at 66,200, and a stop loss at 64,000.
Go short on Bitcoin around 66,200, targeting 64,600, with a breakout looking at 64,200, and a stop loss at 66,600.
Time of writing: (2024-06-21, 00:15)