Don't rush to short BTC Tonight could be the big showdown
Today BTC has already broken to around 97400, which is 600 dollars away from my initial prediction of 98000. Currently, BTC is oscillating around 97000, and at this level, don't rush to short, because there is an extremely important data release tonight, which is the non-farm payroll data. We all know that when many news events come, the market often spikes up and down, especially since tonight is the big non-farm payroll report. The best approach in this situation is to stay out and wait. If the non-farm payroll data at 8:30 PM is favorable, BTC is very likely to continue breaking upward, and 98000 should also be broken. After tonight, BTC's upward momentum will weaken, and a significant correction will follow. Of course, there is also an uncontrollable factor, which is the interest rate meeting on May 8th. This is an immeasurable factor, as it is uncertain whether it will be favorable or unfavorable, since interest rate cuts and no cuts affect the entire cryptocurrency market's trend. Therefore, this cannot be predicted.
If the non-farm payroll data is released tonight and is favorable, after the pump, one can start considering positioning for shorts. However, where exactly to short is uncertain and will depend on the intentions of the major players. But right now, BTC seems to be at the end of its strength, making its last struggle.
Finally, I want to clarify my viewpoint: the perspective of a major drop in May has not changed. The current short-term pump is preparing for a major drop later. Don't say that I am bullish one moment and bearish the next; you just didn't understand my post.
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