Market Analysis: Currently, BC is ranging around 94,500. Yesterday, it dropped to a low of 92,700, which is higher than the lowest point of 91,600 five days ago. This means that as long as it does not fall below 90,300, the trend remains bullish (the high points of 90,300 - 91,600 - 92,700 are continuously being raised). In fact, it can be said that as long as it does not fall below 91,600, the trend is still bullish.
Currently, the market greed index is 60, which is not too high. It is expected that the BTC price will rise to around 102,000, and the greed index will reach around 75, marking a temporary high. Once the market reaches this level, a pullback of around 6,000 points is expected, and once above 96,000, it will start to consolidate. Whether it will continue to push higher if it stabilizes here will depend on the Federal Reserve's interest rate meeting on May 6, and whether there will be a rate cut in June;
At present, it seems highly likely that there will be a rate cut. Even if there is no rate cut, the positive upgrades for ETH will further drive up coin prices 📈. However, for BTC to break through the significant 110,000 resistance level, a substantial benefit from the Federal Reserve rate cut is necessary.
That being said, even if, hypothetically, the Federal Reserve does not cut rates this year (which is very unlikely), BTC will not experience a massive decline. Since BTC was recognized by the mainstream market after the ETF approval in January 2024, it has become a relatively high-quality investment product, second only to gold and above silver. Therefore, if you have a certain vision like I do, do not attempt to short BTC again. A word of advice (just like when I called for a bull market on April 8, many people didn't understand or comprehend it).
In summary, for the past two months, maintain a low buy strategy. The resistance levels for BTC are 99,400 and 102,000, while the resistance levels for ETH are 2,050, 2,270, 2,550, 2,800, and 3,050. Keep an eye on ETH.
