💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
#BatC/USDT#
Trend Analysis
The overall trend appears bearish as there is a strong sell-off from around $87,000 to $82,000.
Bearish Fair Value Gap (FVG) is marked, indicating potential resistance.
The price is currently consolidating near $83,153 after a downward move.
Multiple Swing Lows suggest liquidity below, meaning price could still dip before a reversal.
Entry Point (Short Trade)
Entry Zone: Around $83,500 - $84,000 (if price pulls back into resistance).
Stop-Loss (SL): Above $85,000 (above FVG to avoid stop hunts).
Take-Profit (TP):
TP1: $82,000 (Recent Swing Low)
TP2: $80,000 (Major liquidity area)
Entry Point (Long Trade)
If price breaks above $84,500, it might shift bullish.
Entry Zone: Around $82,000 - $82,500 (if price retests and holds support).
SL: Below $81,000 (previous swing low).
TP:
TP1: $84,500
TP2: $86,000 (near FVG resistance)