BTC is about to face a major correction

The upward momentum has already exhausted

After more than 20 days of rising, BTC has jumped directly to 23000 points without a correction, which is quite exaggerated. However, the upward momentum is now showing signs of exhaustion, meaning this round of increases is basically coming to an end. What follows will be a significant correction, with the first pullback expected to see around 10000 points. This means that from the current position, around 98000 to 88000, it will definitely not drop all at once; there will be distribution in between and some fluctuations around the corresponding support levels before it goes down. No matter how it moves, it is basically within the predicted range of my post. I mentioned in yesterday's post that there would be a rise when the non-farm payroll data was released, and indeed it did rise yesterday. I also said that after the release of the non-farm payroll data, it would be a time for correction, and it is currently following my prediction and has begun to correct!

So, how do we look at the future? First of all, there is a very important date here, which is May 8th for the interest rate meeting. I cannot determine this; it belongs to the news aspect, and relying on predictions is not very effective. If it is bad news, then a significant drop will be unavoidable. If a signal for interest rate cuts is released, then the market will undergo a drastic change. However, regardless of how it changes, this round of a drop around 10000 points is inevitable.

Now the operation is very simple. If BTC can again stand above the position of 97700, then it gives us another opportunity for a high short. If today it can drop to around 95000 and then stop falling, it will be another chance for a long position. In simple terms, the opportunity for high shorts and low longs is coming.