BTC needs to break and close (preferably on the 4hr timeframe or higher) below the psychological support at 30k and then 28.8k. These numbers should be looked at as support areas instead of precise levels. Last June, BTC bottomed at exactly 28.8k on Coinbase which could be rounded off to 29k before reversing and reaching it’s ATH of 69k in Nov that year. There could also be a bounce around the same area which maybe a pullback or an actual reversal but with the economic environment and the current sentiment , it’s uncertain and even lower prices are definitely possible.

The next inflation report on Wednesday (may 11th) will likely give the public a good idea of how the feds will deal with their next interest rate hike in June. Last month the inflation rate was 8.5% so anything below that will be a good sign especially below 8.1% which is the consensus forecast.