#BTCRebound $BTC

$BTC: Don’t Rush to Short — Tonight Could Be the Big Showdown

Bitcoin has surged to approximately $97,400, coming within striking distance of my earlier target of $98,000. As it consolidates near the $97,000 mark, it’s crucial not to rush into short positions. Why? Because tonight’s non-farm payroll (NFP) data release could be a major turning point.

We’ve seen time and again that macro news events cause significant volatility, and the NFP report is among the most influential. With the data set to drop at 8:30 PM, we could see sharp moves in both directions. If the report is favorable—showing job growth without spooking inflation fears—Bitcoin could easily break through $98,000 and aim higher.

However, it's just as important to note that this rally may be nearing exhaustion. If BTC spikes on the news but fails to sustain new highs, it could mark the start of a significant correction. This makes it wise to observe rather than act impulsively.

Adding another layer of uncertainty is the upcoming interest rate decision on May 8th. Whether the Fed maintains current rates or signals a future cut will significantly influence the market. This factor is unpredictable and could override short-term technical setups.

Key Takeaways:

BTC is near a critical psychological level ($98K).

NFP data tonight may trigger high volatility.

A breakout is possible if the data is favorable, but caution is advised.

Watch for signs of exhaustion post-NFP.

May 8 Fed meeting introduces unpredictable macro risk.

Strategy: Stay patient, avoid early shorts, and wait for confirmation after key events. The best trades often come after the dust settles.

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