#BTC
Market Update:$BTC
A daily candle close below $BTC $93,500 signals continued downward price action. If this trend holds, the price is likely to drop toward the $BTC $90,950 range.
If support holds at $90,950, there's a strong chance of a move toward $100K.
However, if this support breaks, we could see a deeper correction toward $88K.
Important Date: May 7th
The Federal Reserve will release its interest rate decision, followed by a press conference.
A rate hike or no indication of upcoming cuts would be bearish for the market.
In such a scenario, the market is likely to continue following the existing price action trend.
Caution is advised.
