Analysis: Bitcoin fails to follow gold's rise, faces a test of $91,600 support

Planet Daily News: Bitcoin's price approached its monthly low before the US.stock market opening on May 6, hovering near the's opening support level of $93,500, indicating a lack of directional market momentum. In comparcontrast showed strong performance, rising 1.5% intraday and accumulating a 4.4% increase this week. Trading company QCP Capital noted that despite a weakening US dollar and strengthening emerging market currencies (especially the New Taiwan dollar), cryptocurrency market volatility remains low, with an overall lack of clear direction. From a technical indicator perspective, MACD shows a short-term bearish signal, while the weekly chart might display a bullish crossover. Trader Keith Alan warned that if the current support level is brecaseached could $, or even the $88,000 to $90,000 range. The market is currently focused on the Federal Reserve's interest rate decision and Chairman Powell's Powell's Powell speech on May 7. (Cointelegraph)