唐华斑竹
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Bearish
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This is truly a tough bull market, hope is always ahead, but it just doesn't come! I hope BTC can withstand the pressure this time, and I hope the Federal Reserve can provide a good interest rate decision. The big pie really shouldn't fall anymore; otherwise, the altcoin market will really go to zero.
Analysis: Bitcoin failed to follow gold's rise and is facing a test of the $91,600 support level.
Bitcoin's price was close to the monthly low before the US stock market opened on May 6, hovering near the $93,500 year-to-date opening support level, indicating a lack of directional movement in the market. In contrast, gold prices performed strongly, rising 1.5% on the day and accumulating a 4.4% increase this week. Trading company QCP Capital pointed out that despite the weakening US dollar and the strengthening of emerging market currencies (especially the New Taiwan Dollar), the volatility in the crypto market remains low, and the market as a whole lacks clear direction. In terms of technical indicators, the MACD shows short-term bearish signals, while the weekly chart may show a bullish crossover. Trader Keith Alan warned that if the current support level is broken, Bitcoin's price could drop to $91,600, or even in the range of $88,000 to $90,000. The market is currently focused on the Federal Reserve's interest rate decision and Chairman Jerome Powell's speech scheduled for May 7.
This is truly a tough bull market, hope is always ahead, but it just doesn't come! I hope BTC can withstand the pressure this time, and I hope the Federal Reserve can provide a good interest rate decision. The big pie really shouldn't fall anymore; otherwise, the altcoin market will really go to zero.
Analysis: Bitcoin failed to follow gold's rise and is facing a test of the $91,600 support level.
Bitcoin's price was close to the monthly low before the US stock market opened on May 6, hovering near the $93,500 year-to-date opening support level, indicating a lack of directional movement in the market. In contrast, gold prices performed strongly, rising 1.5% on the day and accumulating a 4.4% increase this week. Trading company QCP Capital pointed out that despite the weakening US dollar and the strengthening of emerging market currencies (especially the New Taiwan Dollar), the volatility in the crypto market remains low, and the market as a whole lacks clear direction. In terms of technical indicators, the MACD shows short-term bearish signals, while the weekly chart may show a bullish crossover. Trader Keith Alan warned that if the current support level is broken, Bitcoin's price could drop to $91,600, or even in the range of $88,000 to $90,000. The market is currently focused on the Federal Reserve's interest rate decision and Chairman Jerome Powell's speech scheduled for May 7.
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BTC
94,432.56
+0.23%