During this period, BTC has been soaring, and it seems that news indicators and technical analysis have all failed. It's awkward that short positions were placed too early, and there's no courage to open long positions.
This week, the emergence of several important data points has led to structural changes affecting BTC. The negative impact of tariffs has been fully digested by the market after a month of scrutiny. As mentioned before, any reversal or change from Trump after the tariff announcement, even if not realized, can be considered positive news. After all, when the market is bearish, it is suitable for unexpected reversals. The whales' price increases during this time, combined with Trump's news, have caused BTC to soar and establish a new bottom. This batch of whales understands human nature, and of course, this timing for pushing the price aligns with the whales' style.
Benefit 1: While pushing the price up, it allows major holders and those who are optimistic about BTC's ecosystem to continue buying in, as they won't sell easily, thus making the price push cheaper.
Benefit 2: Inducing longs and forcing shorts, seeing which side can't hold back first. When most people in the market believe it is a reversal, a sharp drop will come, retracing to around 92,000, or even 88,000. However, if the bears continue to play, then BTC exceeding 99,000 is not impossible.
In the past two days over the weekend, without significant news, there will definitely be random fluctuations, and the market's movements won't be too large; we should save our bullets for later. Because the Fed's speech is coming on May 8, based on this week's GDP, PCE, and non-farm payroll data, it is certain that there will be no interest rate cuts in May. Powell will still say the same things with a neutral but hawkish tone.
Many people in the market actually foresaw this result in advance, but this is not a small piece of news. The plot on that day will definitely see a decline, but the extent and duration of the decline will not exceed expectations, meaning it won't be significant. Unless everyone is going long, otherwise, spending so much cost and time to push the market up only to crash down does not align with the profit ratio for the whales. The whales will definitely wait for this news to emerge before continuing to push the market unexpectedly. What we can do is to go short on dips on the day of the Fed's speech. If it's a short position, it's safer to have a liquidation price above 120,000. It is still advisable to short at high points, focusing on one direction for more stability. We must not forget that we are currently in a liquidity-dry recession period. Besides BTC, are there any other cryptocurrencies that are rising similarly? Therefore, under the premise of insufficient funds, the whales will not act as saviors to push prices up for your profit.
