Update on May 3

The next key date is May 7, as two significant events will occur on this day:

1. Ethereum Major Upgrade

2. Federal Reserve Interest Rate Decision Meeting

Both of these factors could have a significant impact on the market and can be seen as key signals for the entire market in May.

If Bitcoin intends to continue its upward momentum, it is very likely to start ahead of the official announcement of favorable news. Therefore, last night Bitcoin once touched 97,895, and Ethereum also briefly broke through 1,870, and is currently still fluctuating near the pressure zone of the daily and 4-hour charts (around below 1,850).

From the data, the shorts have basically been cleared, and the bulls have become the obvious main force.