01/05/23 Weekly outlook
Last weeks high: $30063.8
Last weeks low: $28501.3
Midpoint: $26938.8
BTC starts a new month today. April is usually known as a bullish month for cryptocurrencies in general and although the monthly did close green, the market spent a lot of time chopping sideways inside our new range of 25.2-32.5k. The April candle could be a potential bearish abandoned baby pattern and therefore would see May be a bearish candle that would aim to hit the 23k area
Acceptance above the 32.5k area would be extremely bullish, however having climbed approximately 100% from the January lows, and no signs of new money coming in I'm fearful that that we may have exhausted this rally and need to start again lower down.
Last weeks low: $28501.3
Midpoint: $26938.8
BTC starts a new month today. April is usually known as a bullish month for cryptocurrencies in general and although the monthly did close green, the market spent a lot of time chopping sideways inside our new range of 25.2-32.5k. The April candle could be a potential bearish abandoned baby pattern and therefore would see May be a bearish candle that would aim to hit the 23k area
Acceptance above the 32.5k area would be extremely bullish, however having climbed approximately 100% from the January lows, and no signs of new money coming in I'm fearful that that we may have exhausted this rally and need to start again lower down.
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