Odaily Planet Daily News Bitcoin prices were close to the monthly low before the opening of the U.S. stock market on May 6, hovering around the opening support level of $93,500 at the beginning of the year, indicating that the market trend lacks direction. In contrast, gold prices performed strongly, rising 1.5% during the day and 4.4% this week. Trading firm QCP Capital pointed out that despite the weakening of the U.S. dollar and the strengthening of emerging market currencies (especially the New Taiwan dollar), the volatility of the crypto market remains low and the market as a whole lacks a clear direction. In terms of technical indicators, MACD shows a short-term bearish signal, while the weekly chart may show a bullish crossover. Trader Keith Alan warned that if the current support level is lost, the price of Bitcoin may drop to $91,600 or even the $88,000 to $90,000 range. The market is currently focusing on the upcoming Federal Reserve interest rate decision on May 7 and the speech of Chairman Jerome Powell. (Cointelegraph)