During the May Day holiday in 2025, Bitcoin fell back after high-level consolidation. This week's volatility is due to BTC facing resistance at 98,000 to 100,000 with a slight retreat, and the Federal Reserve meeting on the early morning of May 8 may maintain the interest rate at 4.25%-4.5%, which could lead BTC to test the support at 91,700; this is a key support level worth paying attention to.
Historical data shows that when Bitcoin rises, RSI often corrects from overbought to oversold areas. Therefore, if Bitcoin wants to rise to 110,000-120,000, it needs to first correct to 91,700, and the RSI should be close to the oversold area to ensure a full correction ends.
The current price of BTC is around 93,700. If it breaks this key support level, it is likely to test the 91,700-90,000 range.
91,700 is the previous support level; if it quickly breaks below yesterday, it may form a V-shaped reversal, quickly ending the reversal. The more likely scenario is a brief stabilization at 94,000, but it is hard to change the downward trend. The range of 91,700-97,800 can be divided into three boxes, with the upper edge of the lower box at 93,700 and the upper edge of the middle box at 95,700. Since it is likely to be bearish, you can continue to short at 95,700.
Ethereum has been sluggish recently, oscillating between 1750 and 1850.
Wednesday's Prague upgrade is key; if it disappoints and doesn't break 1850, or falls below the box to 1700. I shorted ETH at a high; building a position with 2x long term. If it continues to rise after the upgrade, I will cut losses, which means that the good news has been fully priced in.
From the end of April to early May, influenced by interest rate meetings, the market has been oscillating broadly and narrowly, and it will only soar after May 8.
You can see that altcoins are following the movements of mainstream coins, indicating that we have not yet reached a true independent market peak, and liquidity is insufficient. At this time, it is better to quietly accumulate valuable coins or patiently wait to avoid frequent short-term operations that could lead to losses. The focus should be on seizing trend opportunities or major event opportunities if you want to make big money.
If you are going to dollar-cost average, I only recommend choosing BTC, ETF, and SOL; do not choose other assets. Focus on defense, and what awaits you is the safety of cashing out!
OZK surged by 40%, revealing DONKEY and JAGER; a new windfall opportunity has arrived.
I have been talking about OZK for a long time, as mentioned in previous articles, which you can review. Those who followed along are really making money; it broke the neckline to 0.0019 this afternoon. It is currently consolidating and may start a new trend, so it could be a good time to position. If you are afraid, I suggest you exit for safety. Small coins are volatile and can inexplicably surge by 40% at any time.
Four, Jager, and Donkey on the BSC chain are soaring.
Jager is a platform, and Donkey is a meme that CZ has called many times, both featured on Alpha. Four is a meme launch platform on the BSC chain, and CZ's crackdown on Dingaling's launch platform Boop, combined with several new TGE projects showing stable price performance in Alpha, is starting to feel like 'a hundred coins blooming' in a way.
In addition, although the official Twitter of SKYAI was banned, leading to a wave of silence, I do not believe they will just lie down. After all, the strategic position of MCP on the BNB chain cannot be reflected in the current 35M market cap. I haven’t sold any of my tokens; let’s give it a little more patience and see.
The narrative of AI will not end so easily.
Today's password: PEPE
The meme coin PEPE had a sharp drop last time, allowing everyone to enter around 657-570, and this rebound has nearly 50 points. Spot traders are making significant profits, and a new opportunity is coming; the daily chart shows it will follow BTC's movement. Support is at 772, with strong support at 657-570, so I suggest entering boldly. If you are worried about missing out, for spot trading, you can enter with 2 layers at 772. In the next surge, PEPE may lead; I recommend DOGE and PEPE, but be cautious with other memes.
SUI
SUI has recently shown potential, rebounding by 11% after dropping to 3.15 yesterday, presenting a buying opportunity. If Bitcoin breaks below 93,700, it is recommended to buy at the support and resistance switching level. Fibonacci retracement shows that 3.16 dollars is near the 0.382 level, or it may retrace to 3 (50% level) or even 2.72 (61.8% level). 3 dollars is a better entry point because multiple points overlap and there is a vacuum below, so the price may test this level.
