Japan's June Reuters Short-Term Economic Outlook Manufacturing Confidence Index

Tonight, Bitcoin ( BTC ) market will face an important moment, as the release of U.S. unemployment claims data may become a turning point for market trends. From a technical perspective, the BTC price has dropped to the lower band of the Bollinger Bands, trading volume continues to decrease, and the Relative Strength Index ( RSI ) is hovering in the neutral zone. These signs all indicate that the market may be about to change. If the unemployment benefit data is better than expected, it may be interpreted as the US economy remaining strong. In this case, BTC may experience a short-term rebound, but to confirm a trend reversal, it needs to break through the middle band of the Bollinger Bands. However, strong economic data may also raise expectations for Fed interest rate hikes, leading to a stronger dollar, which would withdraw funds from risk assets. In this scenario, the price of BTC may fall back after rising to around $115,000, and it will be very difficult to break through the resistance at $118,000. On the contrary, if the unemployment data falls short of expectations, the market may anticipate the Federal Reserve cutting interest rates or pausing hikes. This risk-off sentiment could drive BTC prices higher, but investors also need to be wary of the potential "buy the rumor, sell the news" trap. From a technical perspective, if the BTC price falls below the $110,000 mark, it could trigger more selling, with the next support level around $108,000. The current RSI indicator is around 40. If it quickly rises above 50 after the data is released, it could trigger technical buying; if it falls below 30, it may accelerate the decline. It is worth noting that unemployment claims data will directly impact the interest rate cut expectations for September. If the data is poor, the probability of a rate cut could quickly rise from the current 40% to 60%, which may provide upward momentum for BTC. In addition, if the data causes fluctuations in the US stock market, Bitcoin's safe-haven property as 'digital gold' may be highlighted. However, investors should also be aware of the potential inverse relationship between BTC and physical gold. Overall, tonight's BTC movement will be strongly influenced by unemployment data. Positive data may lead to a brief rebound, but $118,000 remains a strong resistance level; negative data could cause the price to fall below $110,000, but investors need to closely monitor the support level below. For individual investors, the focus should be on the Bollinger Band middle band and RSI 50, as these two key signals will provide important guidance for the short-term market direction.

The Bitcoin market has recently shown interesting technical trends. After the earlier Elliott Wave Theory downtrend structure was completed, the market has entered the ABC adjustment wave segment as expected. Currently, this adjustment fluctuation is mainly concentrated in the range of 114800 to 112500. It is worth noting that the B wave of the ABC correction has stabilized at the position of 113200, creating conditions for the rebound of the C wave. Market participants generally expect that the upcoming C wave rebound may push the Bitcoin price towards the upper limit of the adjustment range at 114800. For traders, this may be a potential entry opportunity. It is recommended to consider establishing long positions in the range of 113300 to 112800, with a target price set at 114800. If the trend is strong, one might even expect it to reach around 115500. However, investors should keep in mind that the cryptocurrency market experiences significant fluctuations, and risk management is crucial. At the same time, closely monitoring global economic events for their potential impact on the market is also a wise move. With this technical rebound of Bitcoin, the entire cryptocurrency market may be boosted. Investors are closely watching whether this trend can sustain and its impact on overall market sentiment.

Recently, the cryptocurrency market has once again experienced significant fluctuations. The price of Bitcoin is facing an important test at the 110,000 threshold, and market participants are closely monitoring its trend. Some investors are concerned that there may be a substantial fall, possibly even returning to the 100,000 level. However, there are also views that the current market presents opportunities. Some analysts point out that as expectations for interest rate cuts rise, Bitcoin may return to the range above 100,000 in September. This reminds many investors of the rapid rise of Bitcoin in the past, hoping to seize new investment opportunities. Nonetheless, there is still a high degree of uncertainty in the encryption currency market. Investors need to carefully assess risks and develop reasonable investment strategies. Whether bullish or bearish, decisions should be made based on thorough market analysis and personal risk tolerance. In this volatile market environment, it is particularly important to maintain rationality and patience. Investors should continuously pay attention to market dynamics, but at the same time, they should also avoid blindly chasing after rises and falls. How the future price trend of Bitcoin will be still needs time to verify.