Bitcoin (BTC) enter the second week of May trading in a fragile but critical area, with conflicting and growing technical significance signals to form short -term expectations. While ADX of the directional movement index rises, the downward pressure continues to dominate, and the momentum remains weak through multiple indicators.
Although the price still exceeds the level of subsidies of $ 92,900, weakening the EMAS and the FOMC meeting on the horizon leaves the recovery course of $ 100,000, but not far from hand.
The BTC trend is rising, but the bears are still in control
Bitcoin (DMI) is a remarkable shift.
ADX, which measures the strength of the direction regardless of the direction, sharply increased to 25.93, up from 15.97 only two days ago – where the main threshold 25 which indicates that the trend began to get traction.
This ascending ADX indicates that the fluctuation is returning and a new directional step is formed, even if the direction itself is unclear.
Looking at the DMI components, the +DI (upward strength) rose to 12.2, a slight rise from the lowest level yesterday of 8.67 but still a significant decrease from 21.31 three days ago.
Meanwhile, the -di (dumplings) reaches 19.17, slightly away from its peak of 25.44 but is still higher than three days. This indicates that although the last declining momentum has somewhat cools, sellers still have the upper hand.
With RISING ADX and -Di, Bitcoin can remain under pressure unless +Di +is sharply recovered in the coming days.
Bitcoin besieged under the cloud as well as kiosks
The current Ichimoku cloud chart of Bitcoin reflects a market of unification, with a slight downfall. The price of the price is sitting near Blue Kijun-Sen, which usually represents a medium-term momentum.
Trading under this line indicates that BTC lacks strength to restore bullish momentum in the short term. White candlesticks, which are near the cloud cloud border, indicate the frequency among merchants, with no clear outbreak on the horizon.
Green (the cloud) itself is relatively thin at this stage, hinting to a fragile support area that can be easily broken in the event of a downward pressure.
Looking forward, Red Senkou Span B – the upper part of the expected cloud – is a dynamic resistance, which puts any upward attempts. To get a stronger upscale signal, BTC will need to be closed decisively over both Kijun-Sen and the entire cloud.
It makes matters more complicated, Tenkan-Sen (the transfer line) is flat and intertwined with Kijun-Sen, indicating poor momentum and lack of trend. Tenkan Flat and Kijun lines often precede the side movement or the delay in the development of trend.
Until Bitcoin is convincingly broken over the cloud with a high size, the current setting tends to drop, with the price in a low conviction area and limited momentum.
Bitcoin holds a major support as $ 100,000 is recovered in the balance
Bitcoin has been flexible above the level of $ 90,000 since April 22, as it has repeatedly received support near 92,945 dollars despite the broader uncertainty in the market. Emas moving averages still reflect a bullish structure, with short -term averages higher than that long -term.
However, there are early signs of momentum, as Emas has started in the short term to be down-a sign that buyers may lose strength soon.
If BTC fails to obtain its main support, the decrease may be about 88,839 dollars, which broke the structure that was held for more than two weeks.
However, some analysts remain confident. Nick Burin, founder of the currency office, believes that bitcoin is in a good position to restore a brand of $ 100,000, even with the markets facilitating the fluctuations surrounding the upcoming FOMC meeting:
“It will be a volatile week. First, we have a FOMC meeting tomorrow. Although it is quite clear that there will be no price cuts, what President Powell says is that he can move the markets. Moreover, trading is low in size and that the long/short percentage is heading to 50/50. So a retreat from these levels does not cause anxiety – it is possible to wear. – Benincrypto said.
Nick states how the coming decisions can affect the market in the coming months:
“If the surprises that have some tones enjoyed by some tones in addition to guidelines for price discounts in June, there is a field for bitcoin to gather throughout the way to the level of $ 100,000, which remains a magnet for liquidity. But even if Powell connects with a loud tone, the effect on hope will be that there will be less than necessary. Beincrypto.
The momentum recovery may first push the BTC to re -test the resistance at $ 95,657, with an outbreak that is likely to lead to $ 98,002 and eventually a challenge to the psychological level of $ 100,000.
With the overall opposite winds and the largest technical crossroads this week, the next step is likely to depend on how BTC responds to its support area and how the broader market morale interacts with the comments.
Disintegration
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