BITCOIN (BTC) EXPECTATIONS BEFORE FED!

Bitcoin's current price is around $94,350, with traders expecting increased volatility ahead of the Federal Reserve's interest rate decision on May 7. The Fed is likely to hold rates steady, with a 98.2% probability of no rate change. However, the tone of Fed Chair Jerome Powell's comments will be crucial in determining market sentiment .

Key Factors to Watch:

Powell's Forward Guidance: Powell's comments on inflation persistence or labor market concerns could shift market expectations.

Jobs Data Emphasis: Increased focus on employment statistics could signal the Fed's willingness to consider easing if labor markets deteriorate.

Support/Resistance Validation: The $93,000 level is a critical demand zone, with $97,100-$98,100 providing the first major resistance if bulls regain control .

Potential Price Movement:

Breakout or Breakdown: A confirmed daily close above $96,000 could reinforce the case for a continued uptrend, with key resistance levels at $98,500 and $100,000.

Support Levels: Initial support is seen near $91,000, with the middle band of the Bollinger Bands providing potential dynamic support in the event of a pullback.

Bearish Scenario: If Bitcoin can't hold $93,000, it may slide lower to test the next value area between $81,000-$88,400 .

Expert Predictions:

Short-Term Forecast: One prediction indicates Bitcoin's value will increase by 10.83% and reach $104,496.63 by May 7, 2025.

Long-Term Outlook: Some analysts believe Bitcoin could reach $100,000 or higher, while others predict potential corrections.#BitcoinReserveDeadline #BinanceLaunchpoolSXT #MarketPullback