1. Current Price and Market Performance
- Bitcoin is currently trading around $96,500, with an increase of 0.91% over the past 24 hours.
- Recent Volatility: Bitcoin experienced volatility in the past few days, reaching a low of $92,899.55 on April 30, then rebounding to $94,788 on May 1.
2. Technical Forecasts
- Key Technical Indicators:
- RSI Indicator: At 46 (neutral zone), indicates a balance between buyers and sellers.
- MACD: Shows a bearish trend with decreasing red bars, which may indicate temporary selling pressure.
3. Influencing Fundamental Factors
- Political Support: Support from figures like Donald Trump for cryptocurrencies is expected to boost confidence, potentially pushing the price to $150,000, but the risks associated with volatility remain high.
- Monetary Policies: A projected decline in U.S. interest rates to 3.75-4% may increase Bitcoin's appeal as an investment alternative.
- Technical Developments: The increasing adoption of blockchain and digital currencies by governments may support long-term growth.
4. Potential Risks
- Sharp Volatility: Prices remain susceptible to sharp fluctuations due to external factors such as security breaches or regulatory changes.
- Institutional Selling Pressure: Large-scale sell-offs by institutions may lead to short-term declines, especially as the price approaches critical resistance levels.
Conclusion
Today, Bitcoin shows moderate volatility with bullish opportunities based on technical analysis and fundamental factors. However, traders should monitor key support and resistance levels ($81,000 and $97,000) and pay attention to political and economic news that may influence the trend. It is advisable to follow risk management strategies, such as setting stop-loss orders, especially given the anticipated volatility. $BTC
