Ethereum Pectra Upgrade on May 7, $BTC 5

Interest Rate Meeting on May 8

$BTC broke through 97400, and a top divergence appeared in the 4-hour MACD

This means the short-term rebound has ended. The market is expected to oscillate for a few days before entering a downward adjustment phase.

The first pullback target is around 93000, and the second target is around 91000.

If the interest rate result is bearish, Bitcoin is likely to experience a significant drop.

If a rate cut signal is released, it may reverse the market trend.

However, too quick a rate cut may not be a good thing, as it can lead to inflation! I mentioned this in a previous post, feel free to check out my posts.

From an overall trend perspective, BTC is likely to undergo a round of adjustment and decline starting with 8.

With the ETF upgrade approaching, market sentiment is generally fluctuating; the ETF market is just a capital game of “left hand to right hand” among institutions like Grayscale and BlackRock. Don't let some news affect you.