Talking or rather writing about the behavior of the price action these days is somewhat trite, but well anyway I will try to make a brief description of how the bulls see the market development in the coming weeks.
To synthesize the ideas I will compete some approaches from one of the main columnists of the Cointelegraph portal William Suberg, who states that "increasingly as a shift in sentiment (or market sentiment), bitcoin and altcoins alike refuse to lose the gains they achieved more than a month ago."
According to Suberg, "Amid a torrid macroeconomic environment, cryptocurrencies are making their own way where assets like stocks are feeling the pressure, and bulls are hopeful that the rallies are not yet over."
Another focus discussed is that "The new week holds many potential volatility triggers. With inflation still on everyone's mind, the US Federal Reserve will offer a round of comments as part of planned engagements, and Chairman Jerome Powell is among the speakers."
One tidbit that caught my eye is that according to Suberg, "At just over USD 35,000, the close set a new 18-month high, and preceded a bout of volatility that saw a brief spike to just below the USD 36,000 mark, data from Cointelegraph Markets Pro and TradingView show."
SOURCES CONSULTED
Cointelegraph. Exchange flow gap hits 10K BTC — 5 things to know in Bitcoin this week. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
