Technically, BTC has a Fair Value Gap (FVG) on the 1D timeframe between $90K–$92K, and a CME Gap in the same zone. Selling pressure is increasing and just like I mentioned earlier, a proper dip is expected before a new ATH.
We also have a strong support zone at $92,848 keep this level on your radar.
Also, today’s US Manufacturing Data came in worse than expected this is not good for risk assets like crypto and stocks. It adds to the bearish pressure.
Important Date to Watch:
7th May FOMC Meeting
If Powell makes any negative comments, markets could face sharp volatility or a heavy dip
Now Think: Why all the bullish news right now?
• Michael Saylor buys 1,895 BTC ($180M)
• Trump’s cabinet shows interest in Bitcoin
• Senator Lummis: “Trump may buy 1M BTC”
• Jim Cramer: “There is no recession”
• US-China tariff talks resume
All this when BTC is near a major supply zone?
Where were these headlines at $73K?
Smart money sells into hype not buys at the top.
