Technical analysis by Orriginal about Symbol BTC on 5/7/2025

Bitcoin is continuing to head towards that red 236 Fib circle while being Kept below the 2.618 Fib ExtensionThis could see PA Drop back to the 92K area where it will bump into the Cup shape it has created.This Cup has strength . It has been tested 3 times previously and on each occasion, PA Bounced well off itThe overhead resistance and the Daily MACD are two reasons why this may happenhttps://www.tradingview.com/x/vPk9r6c4/As you can see, the Daily MACD is touching its signal line, potentially Bearish but most likely only on a short term basisBut we should be ready incase things continue to turn Bearish, as it did before. See the rise in MACD on the left.Not the similarity in the Histogram on both occasions.Today, we have the DXY support group, otherwise known as the FED reserve, announcement on Rates.This could trigger a move in either direction, depending on the choice.Expectation is for Rates to remain unchangedPA has the ability to move in both directions,.We need to wait and see