Bitcoin Price Prediction (Short-Term Outlook)
Bitcoin has been on a tear, recently spiking near $97,000 after weeks above $90K. With the Fed holding rates steady on May 7, attention shifts to Powell’s comments and market reactions. Traders note Bitcoin dominance at four-year highs and growing institutional flows, a bullish backdrop. Technicals remain constructive but caution is warranted. On the daily chart, key resistances lie between $99–100K (extending to $102.5K) while supports are near $91.7K
Momentum indicators (e.g. RSI ~58) suggest room to run before overbought levels, and MACD on shorter timeframes is crossing bullish.
Support & Resistance: Immediate support sits around $94K–$92K  (break below could retest the mid-$90Ks), while clearing $97K–$100K would open the way to new highs.
Volatility & Sentiment: Bitcoin’s short-term volatility is very low, historically followed by sharp moves after events.
Analysts note BTC “grind” upward underpinned by strong ETF inflows and growing trader confidence . Bulls have been adding longs near $94.4K in futures, anticipating a rebound.
Outlook: If Bitcoin holds current support, a push toward $100K could come this week. However, any Fed hint of prolonging tight policy might trigger a pullback toward $90K. In summary, traders see a bullish edge as long as $92–94K holds, but volatility is likely as markets react to macro cues.
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