Jobless claims exceeded estimates and jumped to the highest level since October 2021. It was expected that interest rates would remain elevated for an extended period. However, potential rate cuts could be on the horizon.

Given the recent strength of the stock market, it is possible that Bitcoin will rebound from here as it has been lagging the overall stock market for a while now.

BTC > $28,500 → Bullish
BTC < $28,500 → Neutral with a bearish bias
BTC < $25,250 → Bearish

On ETH’s daily chart, we need to wait for a clear breakout of the 50-day MA for the bulls to take control.

ETH > $1,890 → Bullish
ETH < $1,890 → Neutral with a bearish bias
ETH < $1,710 → Bearish

On ADA’s daily chart, price has been trading in an upward trend line since its low Dec ’22. The trend has now failed to hold due to the SEC lawsuit. A push back up to resistance at $0.3537 is likely, this could provide an opportunity for a short position.

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