Experienced Analyst Shared Bitcoin (BTC) Expectations Before FED! Identified Key Levels That Must Be Protected!

Bitcoin (BTC) last week rose above 97 thousand dollars but fell back to the level of 94 thousand dollars with the rejection it faced at the resistance of 98 thousand dollars.

Analysts reported that the decline in BTC is due to macroeconomic uncertainty and the FED's upcoming interest rate decision in May.

Analysts warn that the price may drop further in the short term, one analyst identified key support levels for BTC as $92,500 and $89,000.

FxPro analyst Alex Kuptsikevich, speaking to Coindesk, stated that the market has returned to an important resistance zone that served as support from December to February, and that the next downward targets are $92,500 and $89,000.

According to Kuptsikevich, a break below 90,000 dollars would cause damage at both technical and psychological levels and could push the price below the 200-day moving average.

"We have returned to an important resistance zone that served as support from December to February.

The next downward targets are 92,500 and 89,000 dollars.

A break below $90,000 would be technically and psychologically damaging and would take us below the 200-day moving average.

Despite the decline, Bitcoin ETF net inflows reached $1.81 billion last week, indicating that investor interest continues.

On May 7th, Wednesday, it is expected that the FED will announce its interest rate decision for May tomorrow. Following that, FED Chairman Jerome Powell will make statements. While the FED is expected to keep interest rates steady tomorrow, Bitcoin and altcoin investors are closely following the FED's decision and Powell's statements. This is because investors are looking for more clarity regarding the economic outlook and future interest rate cuts.