Yesterday I wrote that the market has a large number of open shorts on #BTC , especially in the 96,000–97,500 USD range. The market typically seeks to clear this liquidity — meaning triggering the stop-losses of short sellers.
We saw a fakeout to the downside yesterday, which invited more short positions — many traders were expecting a correction ahead of the upcoming FED decision. Today’s move upward is, in my view, not a sign of strength but a calculated short squeeze.
Once that excess short pressure is removed, I expect a sharp drop toward the 90,000–92,000 USD zone, where #Bitcoin will likely consolidate until May 7, when the Federal Reserve announces its interest rate decision. Only after that event do I anticipate a bullish breakout and continuation of the upward trend, especially if the Fed’s tone is dovish or neutral.
Why this scenario makes sense: • Coinglass heatmaps show large short liquidation clusters above — a clear target before any drop. • Positive funding and rising open interest suggest the price is being pushed up artificially before a correction. • Market psychology: many traders shorted too early — this leads to a squeeze, followed by a strong drop that also takes out late longs entering out of FOMO. • Historically, before key FOMC events, markets tend to consolidate lower due to uncertainty.
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Summary:
This rally looks more like a short squeeze than real strength. I expect BTC to drop toward 90–92k and stay there until May 7. The real upside move may come only after the Fed decision.
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it's confusing, if btc goes up eth goes down and vice versa if btc goes down eth goes up🗿
Cherly W Ferontica
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Don't be greedy, it's enough for today 13.4k, we'll continue again tomorrow. Alright, I'm going back to sleep. Hopefully, I wake up in the morning and the price drops. So even while sleeping, I can earn.
that future discount voucher is not a spot, so you can't use it unless you get a spot voucher. sorry if my answer is wrong because you didn't mention if that was your own funds or if it was from a voucher