Discuss the short-term trend of Bitcoin and Ethereum during the May Day holiday


On April 30th early morning, the Federal Reserve announced that interest rates would remain unchanged. Powell's speech was somewhat dovish, but Bitcoin's volatility was limited, mainly because liquidity has not fully recovered. The market had already partially priced in this expectation, and after the decision was announced, the market experienced a short-term flood of liquidity, but the overall downward trend remained unchanged.
Currently, from the 795k rebound low point, the 75k support level is forming a short-term high point, with Bitcoin at 775, which is in the area where selling pressure has shifted downward, forming a short-term top. In the coming days, the price will oscillate between 77,500 and 75k. After consolidation, a further retest may form a short-term bottom signal around 72,000 to 74,000. It is clear that this round will not break below 70k. The price has been trading below the middle band of the Bollinger Bands, indicating a generally weak short-term trend; the Bollinger Bands are narrowing and flattening, with bulls and bears in a tug-of-war, leading the market into a range-bound consolidation pattern with significantly reduced volatility.
Trading suggestions
Buy between 77,000 and 77,500, target 76,000 to 75k $BTC
BTC1.62%
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