$BTC #失业金爆合约

The news is positive, we should eat the meat we have, but the overall downward trend afterwards shouldn't trap others, right? 😅

I already mentioned that the overall trend was down last night 😂, and you can analyze the data on the market to get a rough idea. As for why the positive news was released and the market still fell, let me break it down for you.

🙈 After searching for a lot of information: I saw the specific situation regarding unemployment claims: it shows that the U.S. manufacturing PMI preliminary value for August is 53.3, hitting a three-year high, but initial jobless claims soared by 11,000, marking the biggest increase in three months, and continuing claims rose to a four-year high. This indicates a weak job market, which theoretically is good news for risk assets like Bitcoin, as it increases the possibility of the Federal Reserve cutting interest rates.

🙊 However, some data shows that the U.S. Producer Price Index (PPI) for July surged by 3.3% year-on-year, and market expectations for a rate cut by the Federal Reserve in September dropped from 98% to 84%, decreasing the attractiveness of risk assets. This could be a significant factor leading to the decline in Bitcoin.

🙉 Bitcoin's technical indicators present contradictory signals: the RSI (14) is at 47.5, which is in the neutral range, but the MACD (12,26) is at -65.5, signaling a sell. The weakness in the technicals may have exacerbated the decline.

I have gone through two cycles of bull and bear markets, and I specialize in strategies for getting out of positions, specifically focusing on mid to long-term waves. I've just switched to Binance, so please pay more attention.