#Gate广场五月交易分享 Officially entering May! Bitcoin is about to experience a major market shift, will it be a big bull run or a crash?
1. Federal Reserve & Inflation
1. Last night’s Federal Reserve decision: keep interest rates unchanged, but the hawkish tone exceeded expectations
2. Benchmark interest rate at 3.5%–3.75% remains unchanged, but there were 4 dissenting votes (the highest since 1992), indicating a clear hawkish shift internally.
3. Powell’s statement: inflation is “high,” no longer “slightly high,” significantly weakening expectations of rate cuts this year, and the market is starting to price in “higher interest rates for a longer period.”
4. For the crypto market: somewhat bearish. Expectations of high interest rates → stronger dollar, funds reluctant to enter high-volatility assets, short-term pressure on BTC/ETH.
2. May Day Market Analysis
Short-term focus for May Day
BTC’s four-hour chart shows that after touching support around 75,000 with a false break, it rebounded. The last time was when it touched the 76,000-75,000 range and rebounded to the 77,000-78,000 range. This time, after a false break of 75,000, it again reached the 77,000-78,000 range. This area remains a resistance zone, a defensive zone for bearish outlooks, so the current strategy is to wait for the market to settle. The market won’t immediately drop to the target after I turn bearish; it needs time to develop. Intraday support levels can continue to watch the 75,000-76,000 range. If it breaks below 75,000, it can directly target the smaller support zone at 72,600-73,800. Overall, focus on the daily support zone of 70,000-72,000 for entry points.
ETH shows a similar pattern. Last time, it rebounded from support at 2,260 to the 2,330-2,350 range, then started to retrace. Yesterday, it reached support at 2,220 and rebounded, which was in line with expectations for resistance at 2,260-2,300. Now, it depends on the strength of this resistance. This is the third major resistance zone where a drop is likely, so it’s a resistance level that needs to be tested for a pullback. The first support below is at 2,180-2,220, and the last two support levels are at 2,130-2,160 for short-term support. The ideal entry point for a bottom-fishing position is in the 2,050-2,130 range, waiting for a market breakout.
Disclaimer: The above information is for reference only, not trading advice. The crypto market is high risk; participation should be cautious.