The big coin is stuck!
If it keeps getting stuck like this, it could very likely oscillate back and forth before starting to drop, which is actually quite dangerous!
This morning, the big coin suddenly surged, probably due to favorable news from the passing of a bill in a certain U.S. state, but it quickly got hammered back down, struggling to break past the 97,000 mark.
It's like the previous time when it couldn't break past 100,000; the buying power gradually got exhausted, and it eventually ended in a sideways movement before dropping directly.
However, it's still uncertain which direction to go during the Asian time zone; everyone is waiting for the Federal Reserve's speech tonight, and we'll know the outcome by tomorrow morning.
The altcoin market is even worse right now; when the big coin slightly shakes, various small coins start to plummet.
Especially those MEME coins and the newly skyrocketed Binance coins; at this time, be careful not to catch falling knives, as you might get trapped at the peak.
The Federal Reserve is set to announce its May interest rate decision at midnight, and it’s pretty much certain that there won’t be an interest rate adjustment; the key is to see if they’ll give any hints about lowering rates in the second half of the year.
Last night, U.S. stocks fell because everyone is worried about this matter and are preemptively hedging.
Additionally, Trump suddenly said he would announce a "major good news" between Thursday and Monday; although he mentioned it might be related to trade negotiations, no one knows what this guy is up to, but it's very likely unrelated to the crypto space.
In summary, pay close attention to tonight's volatility!
If you can't understand the trend and can't predict the big direction, it might be a good idea to follow David; he can guide you through the fog!!!