Bitcoin Update 3rd May 2024
This was last week’s text update for theBTC market: “The very ltf the patterns are bullish telling us that conditions have indeed changed and a move into the mid 80ks can set up after a period of consolidation”. BTC tapped into the 80ks and it has dropped into the ltf pivot into the technical confluence and moved back to the highs. The analysis and data indicates that price in this asset can still push higher but soon this sector will be entering a period where the money flow patterns will start to point to the downside, which will likely set up a period of risk. Upside targets remain in the mid to low 80ks. The big level below is the “rage low” I have marked off.