May 8 Analysis at Midnight
At 2 AM, the Federal Reserve will announce its interest rate decision, which is expected to keep rates unchanged. At 2:30 AM, Powell will hold a monetary policy press conference. Due to the impact of tariffs, Powell is facing unprecedented pressure to cut rates. If Powell hints at a rate cut in June, Bitcoin is likely to surge to 10; if he leans hawkish, it may drop to 9.2. Based on his past speaking style, Powell is unlikely to provide clear directional guidance. There will be significant market fluctuations around the data release, so be cautious with risk management. From the current four-hour view, the K-line is closely following the upper Bollinger band, showing a strong bullish pattern. The technical indicator, 4-hour MACD, is weakening, indicating a risk of a reversal. The long-term trend for EMA remains bullish, which needs to be monitored. The upper resistance level is 98,300 and the lower support level is 96,000. The strategy at midnight remains unchanged; upon retesting the support, continue to pursue long positions while being cautious about shorting temporarily.
Bitcoin: Retracement to around 955-960, target 97,500-98,500
Ethereum: Retracement to around 1,750-1,780, target 1,850-1,900
