GDP data pushed BTC to nearly recover the ground lost from the recession expectations trading on February 24, but essentially the expectations of tariffs and monetary easing have not undergone a qualitative change. Bitcoin's recent trend also indicates that the anticipated drop in Bitcoin mentioned in last week's article (non-farm + GDP + inflation three-pronged attack, Bitcoin rises sharply and then falls sharply? ALPACA delisting scandal, the operator behind the surge? Trump is going to issue coins again? Is it going to cut leeks again?) has occurred.
Bitcoin
Bitcoin's current price is around 93,700 USD. Currently, Bitcoin is strongly supported by MA20, MA120, and MA140, which is the range of 91,700-92,400. 91,700 USD is not only the middle band position of the daily Bollinger Band but also a previous support level. If it quickly breaks below yesterday, it may form a V-shaped reversal and quickly end the reversal.
(1) If we look at the peak retest after the rebound repair at 978.
EMA20 at 92,200 is a strong support level. If this key support level is broken, it is likely to drop to the range of 91,700-90,000 USD.
(2) From the liquidation map.
There are many pending liquidation positions accumulated at the 92,900 level below; further down at 92,400 and 91,900, there are also many positions.
(3) From historical RSI data.
In a continuously rising market, the RSI indicator usually pulls back from the overbought area to the oversold area before continuing to rise. Therefore, if Bitcoin wants to break through the previous high (109,000 USD) and rise to 110,000-120,000 USD in the coming months, a sufficient pullback to 91,700 USD is necessary. The RSI must reach or approach the oversold area to complete the pullback.
Considering comprehensively, the probability of going long at the 92,000 level for Bitcoin is relatively high.
Ethereum
The Prague upgrade this Wednesday is an important technical adjustment opportunity for Ethereum, scheduled for upgrade at 6 PM Beijing time on May 7, 2025.
On September 15, 2022, Ethereum's merger, with a sharp drop on that day.
On April 12, 2023, the Shanghai upgrade, with a sharp increase on that day.
On March 13, 2024, the Cancun upgrade, with a sharp drop on that day.
On May 7, 2025, the Prague upgrade, which is tomorrow? How will it go?
In the past 7 to 30 days, Ethereum's spot inflow has been the highest. Everyone is betting on its performance after the Potala upgrade, hoping it doesn’t disappoint everyone and Sweet Dream this time.
Currently, ETH looks relatively weak; the small levels have begun to decline, and the price has touched near the resistance line above. Therefore, the probability of a downward retest in the short term is very high. The support below is around 1,750 USD, which is also the position where Sweet Dream plans to buy more.
Federal Reserve meeting
This week on May 8th at 2 AM is the Federal Reserve's interest rate meeting. The market expects the interest rate to remain unchanged at 4.25%-4.5%. If the FOMC leans hawkish as expected, it may face a correction. The key support for BTC is at 92,000, and for ETH at 1,750. I plan to divide the trading into two independent phases: before and after the FOMC. If you want to know the specific strategy of Sweet Dream, you can follow Sweet Dream.
Jager
Jager has alpha, the market cap was 50 million last night, and now it has dropped. Repeating what can be played now:
1. Claim airdrops, check active addresses, you can claim directly or after 72 hours, the amount of coins you receive will be different. There are still 2 days to claim.
2. Holding 146 billion in the wallet, dividends can be claimed every 10 minutes, and you don’t have to wait the full 10 minutes to claim; just accumulate enough and claim together.
3. Group LP, requires a 14-day pledge, and cannot be withdrawn for 14 days. $jager and $bnb are at a 1:1 ratio, with the risk of a price drop. The rewards for locking in can be claimed in real-time, and after claiming, you can still earn from holding. Very comfortable.
4. Trading on the fourmeme platform can divide 3% of the tokens. For trades over 0.1 billion on the fourmeme, for those who have not traded, it is over 0.01 billion. The first 7 days are airdrops, with 90.5% going to airdrops. Any unclaimed airdrop coins will be used for pool rewards. The airdrop will end on the 9th. I have claimed 70 USD with one account, as I claimed relatively late; those who claimed earlier reportedly have 200 USD.
Farm
Farm currently has a base market value of 300K, and the narrative belongs to Mars Farm. Musk has repeatedly posted on Twitter about how Mars can achieve agricultural ecology and food production, which also resonates with the recent popular HOUSE and themes. When Musk openly discusses Mars agriculture issues, there is no doubt we can gain huge exposure.
The large community built on BOOP can gain official support, allowing community-led MEME culture to enhance on-chain activity. The support of the secondary creation culture strengthens community cohesion, promoting the landing of application ecology in the future.
Suspected Twitter account of Musk's close friend, CTO of the community + new platform BOOP issuer interacting with DEV. This risk-reward ratio is very worthwhile; I put my MyStonks on the lottery warehouse, and the 0.1% fee is truly cost-effective.
That's it for today's article! Everyone, subscribe so we can achieve financial freedom together in this bull market.
