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Bitcoin Update – Important Notice for May 7
Bitcoin is currently in a consolidation phase, and we expect it to break out of this zone by tomorrow, May 7. Please note that tomorrow is the U.S. interest rate decision, followed by a press conference. It is strongly advised to avoid trading during this news event.
Fed Chair Jerome Powell may make statements that could trigger a bearish reaction in the market. Once again, do not engage in news trading tomorrow.
At the moment, Bitcoin’s momentum remains on the upside. You may consider placing your stop-losses around the marked red zones for better risk management.
Stay cautious and prioritize capital preservation.
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