Bitcoin (BTC) is currently in a delicate and crucial position in the second week of May, with conflicting technical signals and increasing macro uncertainty impacting short-term expectations. Despite the rising ADX on the Directional Movement Index, bearish pressure prevails and momentum is weak across various indicators.

While the price is holding above the $92,900 support level, diminishing EMAs and the approaching FOMC meeting create uncertainty regarding Bitcoin's path to recovery to $100,000, though it remains a possibility.

The strength of the BTC trend is increasing, but bears still exert control. The ADX has surged to 25.93, indicating a developing trend, with the bullish strength (+DI) slightly rising but the bearish strength (-DI) holding a significant position.

Bitcoin is trapped below the Ichimoku Cloud, suggesting a market in consolidation with a mild bearish bias. The price action near the Kijun-sen line indicates a lack of bullish momentum, with the cloud acting as fragile support that could break if bearish pressure intensifies.

Despite holding above $90,000 since April 22, Bitcoin faces weakening momentum as short-term EMAs trend downward. If the key support level is broken, a drop to $88,839 could occur. However, some analysts, like Nick Purin, remain optimistic about Bitcoin reclaiming $100,000, citing positive momentum and strong chart patterns.

Considering the upcoming FOMC meeting and market conditions, Bitcoin's response to support levels and broader market sentiment will determine its next move.