Next week, the Federal Reserve is about to undergo a major change, with new Chair Kevin Woorh likely to receive Senate confirmation on Monday, officially taking over from old Powell on May 15th.

The market is both eager and cautious about him, generally believing he will lean more toward cutting interest rates to boost the economy. But don’t forget, Woorh has always advocated for structural reforms, and his first public speech after taking office could cause significant shocks to the market. As soon as he hints at policy adjustments, the market will tremble. The key now is to see how he balances inflation control and economic growth.

Goldman Sachs also dampened the market’s enthusiasm: inflation is more stubborn than expected, and they have pushed back their expectations for two rate cuts by the Federal Reserve by one quarter each, now expecting them to happen in December 2026 and March 2027.

Looking at Bitcoin $BTC , it has now stabilized above the key resistance level of 80,378. After confirming support on a pullback, it has started to rally again. The next challenge is around 81,700; if it can break through, there’s hope to reach the previous high again. As long as it doesn’t fall below the flag pattern consolidation zone, there’s no need to panic; but if it does break below the flag pattern, the support at 79,150 will likely fail. As for the previous decline, it has not yet reversed; the current rally can only be considered a rebound after a decline. Only by breaking above 81,700 can we see an initial sign of reversal, and a true reversal requires breaking the previous high.

Looking at Ethereum $ETH , as long as it doesn’t break below the bullish trendline, it won’t revisit the support at 2,300; even if it temporarily dips below, it must recover quickly, or else the low at 2,260 will be lost. To move higher, it must first break through the upper spike high, and only after that can it aim for the resistance around 2,350. Once this level is broken, the hourly chart will have the momentum to continue upward.