May, Bitcoin aims for 88,000!

The crazy rise of Bitcoin may soon come to an end! In the past 20 days or so, Bitcoin has surged from a low of around 74,505 to a high of about 97,895, climbing nearly 23,000 points, a staggering increase. However, the market is always rational, and such exaggerated upward momentum is nearing exhaustion; the upcoming trend may catch many retail investors off guard— a significant correction may really be on the way!

From the current market performance, the upward momentum of Bitcoin has clearly weakened. This round of crazy price increases seems to be nearing its end, and it is highly likely that a deep correction will follow. Preliminary estimates suggest that the target price for the correction may be around 10,000 points, meaning Bitcoin may again rise to around 98,000, then gradually fall back to about 91,000 or 89,000. Of course, this correction will not happen all at once; it may be accompanied by bulls struggling, profit-taking, and back-and-forth movements around key support levels. But no matter how it unfolds, it remains within the forecast range of Yu Mo.

Yesterday, I mentioned in a post that there would be a wave of correction, and indeed, the market has developed as I expected from midnight to today. Currently, the market is operating according to Yu Mo's prediction, and the correction has quietly begun!

So, how should we view Bitcoin's trend going forward? There is a very critical time point here— the Federal Reserve's interest rate meeting will be held on May 8. The impact of this news cannot be precisely predicted in advance, but if negative news arises, Bitcoin may experience a significant drop; conversely, if a signal for interest rate cuts is released, the market may undergo a dramatic change. However, regardless of how the news evolves, a correction drop of around 10,000 points is almost unavoidable.

In this situation, the investor's operation strategy is actually very simple. If Bitcoin can rise again to the position of 97,800 or 98,000, it will be an excellent short-selling opportunity. And if today Bitcoin can drop to around 95,000 points and stabilize, then it will be a good opportunity for short-term bullish trades. In short, the market is unpredictable; if you have no clues or direction, it’s better to have a chat with Yu Mo.

The market is always full of uncertainties, but as long as you grasp the key points and keep the operational rhythm, you can find opportunities amidst the fluctuations.