BTC - Next Week Expectations

2023年4月9日

BTC has been boring this past week, but we are finally starting to see some movement. Here at Viaquant, we expect price to push up (due to low liquidity and potential short squeezes) over the next couple days. BTC is currently holding candle body support at the 21D MA. We theorize that BTC will break our last high of around 29.2k and retest our rising wedge again around 29,500-29,600. The zone between $29.2-30k would be the range where longs could get suckered in and shorts would have to cover and close their positions. This would provide market movers with the best liquidity to push price further down from this range. If they are planning on filling shorts in that range then my guess would be CPI could be the trigger for such a move. CPI is April 12th (as pointed out in the chart). The 13th and 14th also have economical data releasing that could affect the price of BTC and other cryptocurrencies. If CPI comes out better than expected - btc could see a mover up to the 21 month MA around 32,900. We will keep you updated as the week progresses.