$BTC
Don't Short
The non-farm payroll data will be released tonight at 8:30 PM, and once this data comes out, the market is sure to experience violent fluctuations, possibly causing erratic spikes.
Currently, the expectation is that the non-farm data is likely to be favorable.
If it is indeed favorable, Bitcoin might directly break through $98,000, and the U.S. stock market could follow suit, with the Dow Jones likely to rise by 500 to 800 points. However, be cautious; after the positive announcement, Bitcoin might not rise and could instead plummet.
Next Thursday (May 8), the Federal Reserve will hold an interest rate meeting, and it's impossible to predict this in advance. If the Fed decides to cut rates, the crypto market is sure to rise; if it doesn't cut rates or even raises them, the coin prices are likely to crash.
The safest approach is to refrain from trading for now, staying in cash and waiting. Focus on the support level at $95,700; if it falls below that, it could be dangerous.
Then see if it can break through $98,000. Either of these two events can turn the market upside down, so wait for the situation to clarify before taking action.
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