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BTC Double Bottom Suggests Target Price of $100,600

The daily chart of BTC has formed a typical double bottom, confirming a breakout above the neckline resistance level of $88,818. It is expected to reach $100,575 or higher.

Meanwhile, the 50-day and 200-day Exponential Moving Averages (EMA) have turned into support levels, providing additional assurance for an upward trend.

Trading volume has remained stable after the breakout, indicating that buyers are still in control. This lays a solid foundation for Bitcoin to reach $100,600.

#BTC

Super Data Week is Coming, Non-Farm Payrolls and PCE Will Follow

Looking ahead to next week, although the Federal Reserve has entered its "quiet period" and the domestic market is about to enter the May Day holiday, there are still many significant events on the agenda. Here are the key points the market will focus on in the coming week:

Monday 22:30, U.S. April Dallas Fed Business Activity Index

Tuesday 22:00, U.S. March JOLTs Job Openings, April Conference Board Consumer Confidence Index

Wednesday 09:30, China April Official Manufacturing PMI

Wednesday 09:45, China April Caixin Manufacturing PMI

Wednesday 17:00, Eurozone Q1 GDP Year-on-Year Preliminary

Wednesday 20:15, U.S. April ADP Employment Change

Wednesday 20:30, U.S. Q1 Labor Cost Index Quarter-on-Quarter, Q1 Real GDP Annualized Quarter-on-Quarter Preliminary, Q1 Real Personal Consumption Expenditures Quarter-on-Quarter Preliminary, Q1 Core PCE Price Index Annualized Quarter-on-Quarter Preliminary

Wednesday 22:00, U.S. March PCE Price Data, March Personal Consumption Month-on-Month, March Existing Home Sales Index Month-on-Month

Thursday 19:30, U.S. April Challenger Job Cuts

Thursday 21:45, U.S. April S&P Global Manufacturing PMI Final

Friday 20:30, U.S. April Seasonally Adjusted Non-Farm Employment Change, April Unemployment Rate

The ADP employment report, known as the "little non-farm," will also be released next Wednesday, along with the latest PCE inflation and consumption data. However, the real focus will be on the non-farm employment report scheduled for release next Friday. Speculation about when the Federal Reserve will cut interest rates is currently very intense. Non-farm employment growth is expected to slow from 228,000 in March to 130,000 in April, with the unemployment rate remaining unchanged at 4.2%. Average wages in April may increase by 0.3% month-on-month. For the U.S. dollar, a series of concerning data will almost certainly be negative, but for U.S. stocks, if hopes for an interest rate cut rise and market sentiment is not overshadowed by recession concerns, the market may rise.

Tokens such as SUI, OMNI, and OP will welcome large unlocks next week.

Among them:

SUI will unlock approximately 74 million tokens at 8 AM Beijing time on May 1, accounting for 2.28% of the current circulation, valued at about 267 million USD.

OMNI will unlock approximately 15.98 million tokens at 7 PM Beijing time on May 2, accounting for 83.51% of the current circulation, valued at about 42.2 million USD.

OP will unlock approximately 31.34 million tokens at 8 AM Beijing time on April 30, accounting for 1.89% of the current circulation, valued at about 25.7 million USD.

KMNO will unlock approximately 229 million tokens at 8 PM Beijing time on April 30, accounting for 16.98% of the current circulation, valued at about 14.5 million USD.

ENA will unlock approximately 40.63 million tokens at 3 PM Beijing time on May 2, accounting for 0.73% of the current circulation, valued at about 14.2 million USD.

ZETA will unlock approximately 44.26 million tokens at 8 AM Beijing time on May 1, accounting for 5.67% of the current circulation, valued at about 11.3 million USD.

REZ will unlock approximately 527 million tokens at 7 PM Beijing time on April 30, accounting for 19.57% of the current circulation, valued at about 7.4 million USD.

MEME will unlock approximately 3.45 billion tokens at 3:30 PM Beijing time on May 3, accounting for 7.90% of the current circulation, valued at about 7.4 million USD.

DYDX will unlock approximately 8.33 million tokens at 8 AM Beijing time on May 1, accounting for 1.09% of the current circulation, valued at about 5.4 million USD.

GUN will unlock approximately 83.33 million tokens at 10 PM Beijing time on April 30, accounting for 13.79% of the current circulation, valued at about 5 million USD.

This Week's Summary

This week, the cryptocurrency market has experienced a significant upward trend, with market sentiment shifting from a pessimistic state to a positive one. This change is primarily influenced by the easing of U.S. policies and the new SEC chairman's friendly attitude towards the crypto industry. With the changing policy environment, investor confidence in the market is gradually restoring, leading to capital inflows into the cryptocurrency market and driving prices up.

However, the market still needs to be cautious of the uncertainties surrounding economic recession and tariff policies, as these factors may continue to impact market trends. While investors enjoy market growth, they also need to remain prudent to cope with potential volatility.

SOL shows signs of recovery potential, especially with positive advancements in technology upgrades and community support. These projects are expected to continue expanding their market influence in 2025.

On the other hand, projects like Omni face selling pressure due to token unlocks, which may negatively affect their prices. Investors should make reasonable allocations based on the specific circumstances of the projects and the market environment to avoid potential risks.

Although the overall industry trend is positive now, the market still faces uncertainties from the impending economic recession and tariffs in the U.S., so this week’s rise can only be viewed as a rebound from previous excessive declines, and not as a reversal of market conditions. It is recommended that investors maintain moderate positions and manage risks well, waiting for clearer policies, which will be the best strategy to cope with the current market.

The fundamentals of Bitcoin have turned bullish, and the market may consolidate or rise slowly.

The fundamentals of Bitcoin have turned bullish, with capital inflows into the network increasing, creating good conditions for breaking through historical highs.

The overall market and speculative capital flows have bottomed out, and when these two factors combine, a favorable market environment is formed. Currently, market liquidity is recovering, and the downside risk is relatively low.

The mid-term target prices of $90,000 and $93,000 for Bitcoin have been reached, with a new mid-term target of $103,000. Due to on-chain indicators showing that prices are high, it may be difficult to rise quickly in the short term; the market may consolidate or rise slowly. Additionally, new channels for capital inflow provide convenience for traditional investors, which are recognized as collateral by banks and brokerage firms, circumventing the regulatory issues faced by Bitcoin.

The fundamentals of Bitcoin have turned bullish, and the market may consolidate or rise slowly.

The fundamentals of Bitcoin have turned bullish, with capital inflows into the network increasing, creating good conditions for breaking through historical highs.

The overall market and speculative capital flows have bottomed out, and when these two factors combine, a favorable market environment is formed. Currently, market liquidity is recovering, and the downside risk is relatively low.

The mid-term target prices of $90,000 and $93,000 for Bitcoin have been reached, with a new mid-term target of $103,000. Due to on-chain indicators showing that prices are high, it may be difficult to rise quickly in the short term; the market may consolidate or rise slowly. Additionally, new channels for capital inflow provide convenience for traditional investors, which are recognized as collateral by banks and brokerage firms, circumventing the regulatory issues faced by Bitcoin.

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#特朗普暂停新关税

老黄kol策略聊天室
If you haven't joined Lao Huang's strategy chat room yet, hurry up! The strategies you want are all here, and we will also arrange for monthly 50-100u red envelope and Binance merchandise for everyone✌🏻️. Let's all work hard to reach 2000 people😁
$BNB

#特朗普暂停新关税

老黄kol策略聊天室
If you haven't joined Lao Huang's strategy chat room yet, hurry up! The strategies you want are all here, and we will also arrange for monthly 50-100u red envelope and Binance merchandise for everyone✌🏻️. Let's all work hard to reach 2000 people😁
$BNB

#特朗普暂停新关税

老黄kol策略聊天室
If you haven't joined Lao Huang's strategy chat room yet, hurry up! The strategies you want are all here, and we will also arrange for monthly 50-100u red envelope and Binance merchandise for everyone✌🏻️. Let's all work hard to reach 2000 people😁
$BNB

#特朗普暂停新关税

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