Strategy Recommendation:

Focus on controlling risk, and consider deploying a BTC/USDT spot grid.
Price range: $82,000 - $101,000;
Grid Quantity: 50
Expected strategy execution time: May 7 - May 15;

Technical Analysis:

At 2:00 AM tomorrow, the Federal Reserve will announce its third interest rate decision of the year. It was mentioned in the strategy recommendation yesterday that, in the case of no change in interest rates, the main focus will be on what Powell has to say.

Currently, the economic data from the United States presents a "mixed bag" of signals, with inflation trends and expectations diverging. The GDP for the first quarter is -0.3%, and the Federal Reserve may continue to maintain a wait-and-see attitude.

Before the interest rate announcement, the market expects three rate cuts of 25 basis points this year, which is one less than the expectation at the beginning of April. After this data is released, there may be a situation of rising first and then falling: with the "Sword of Damocles" landing, some funds may rush out, but Powell might continue to signal that he is "not in a hurry to cut rates," leading to a decline.

From market data, BlackRock once again purchased 5,613 BTC yesterday, worth about $529.5 million. The BTC spot ETF has seen mostly net inflows since mid to late April, which has also supported the recent rebound of Bitcoin.

Overall, Bitcoin's rebound to its current position may have reached its limit, with short-term risks of a pullback. However, overall it is still within a larger market correction and needs to wait for the Federal Reserve's decisions and market feedback.

Therefore, the suitable strategy now is spot Martingale + spot grid, focusing on spot grid. If you want to do contract grid, you can use low leverage with good take profit and stop loss to short.

Friendly reminder: The above content is for reference only and does not constitute investment advice. You can consult more information to make reasonable investment decisions.

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