The US stock market saw a significant rise last Friday, with all three major indices climbing. The S&P 500 index performed particularly well, closing higher for the ninth consecutive trading day, setting a record for the longest winning streak in nearly 20 years. Behind this surge are two key driving forces: first, a better-than-expected non-farm payroll report alleviated market concerns about a potential economic slowdown; second, there are signs of easing in US-China trade relations, boosting market optimism.

According to the latest data from the US Bureau of Labor Statistics, non-farm payrolls added 177,000 jobs in April, significantly higher than the market expectation of 138,000. Although this figure is slightly down from the revised 185,000 in March, it remains strong. This report effectively eased market fears of a rapid deterioration in the US economy, thereby boosting investors' risk appetite.

In addition to favorable economic data, the easing of US-China trade relations has also injected optimism into the market. The Ministry of Commerce stated on Thursday that it is assessing the possibility of restarting trade negotiations with the US, but emphasized that the US needs to show sincerity, especially in preparing to address key issues such as the cancellation of unilateral tariff increases.

However, based on historical experience, the next few months are often a slow season for financial markets, and many investors follow the old Wall Street adage "Sell in May and Walk Away." Nevertheless, this year's market atmosphere may break past patterns. Bitcoin has performed quite weakly over the past few months, but this year it may go against the trend, with the potential to challenge the $98,000 mark, and recent growth stocks are also warming up. Although the latest US GDP data is slightly weak, increasing the risk of an economic recession, if the Federal Reserve initiates interest rate cuts, it could bring a new wave of rebound momentum to the market.

In the cryptocurrency sector, after a failed attempt to break the $98,000 mark, Bitcoin's price fell sharply, reaching a low of $93,445. As of the time of writing, the price is quoted at $94,334, with a decline of about 1.83% in the last 24 hours.

Bitcoin Four-Hour Chart

Bitcoin's price has fallen below the middle band and is approaching the lower band, with the Bollinger Bands widening, indicating increased volatility. If it cannot hold the support at the lower band, a further decline may accelerate. The KDJ indicators show oversold conditions, but the rebound of the J line suggests a short-term stabilization opportunity. In the MACD indicator, the DIF line is far below the DEA line, and the green histogram continues to expand, indicating a clear bearish trend, with no signs of bottom divergence or golden cross reversal yet. The current price hovers around 94,335 (23.6% retracement level), which is a key short-term point. If this support is lost, it may drop to 93,238 (0.0% retracement level); if it can hold, the upper resistance levels are 95,011 (38.2%) and 95,564 (50.0%). In the short term, it is crucial to focus on the gains and losses around 94,335; a break below this level may lead to further weakness in the market.

Instead of giving you a 100% accurate suggestion, I would rather provide you with a correct mindset and trend. After all, teaching a person to fish is better than giving them a fish; a suggestion may earn you a moment, but learning the mindset can earn you a lifetime! The focus is on the mindset, grasping the trend, and planning the market layout and positions. What I can do is use my practical experience to help you, guiding your investment decisions and management in the right direction.

Writing time: (2025-05-05, 13:00)

(Written by - Master Says Coin) Disclaimer: Online publication has delays, and the above suggestions are for reference only. The author is dedicated to research and analysis in the fields of Bitcoin, Ethereum, altcoins, forex, stocks, etc., with years of experience in the financial market and rich practical operation experience. Investment carries risks, and caution is needed when entering the market. For more real-time market analysis, please follow the official account Master Says Coin for discussion and exchange.

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