KEY MARKET INSIGHTS

The Week That Was - Btc / USD

Bitcoin closes-in on a decisive MARKET MOVING break

We are moving ever closer toward a move that will set the tone for the next 6-months. As we will highlight in our Monthly Newsletter, Bitcoin is quickly heading for a supply-shock as Coins are being taken from exchanges at a stunning pace. While this leads toward a bullish bias, the macro (big picture) is still fraught with danger for Bitcoin and the risks are ever present so tread calmly & carefully.

In a technical sense Bitcoin is continuing to create higher lows in this new trend. What is notable about the last 7-days can be seen with the wick down into the liquidity zone of $38,000 where bulls defended the area with conviction, and preventing a tense breakdown. Bitcoin moved swiftly back above the trendline which continues to push Bitcoin closer to a date with $50,000 USD. For now, $42,000 remains a thorn where sellers will re-engage.

To get to 50k Bitcoin MUST force it's way through the 50 MA (green) and the heavy resistance band above that has caused so much trouble over the last few months. Confidence will be strong when, and only when, $46,000 - $48,000 is reclaimed and held. For deeper insights into April/May with crypto buy/sell recommendations, sign-up to our paid Monthly Newsletter. Link in the description. Happy Hunting!

THIS WEEK’S TOP HIGHLIGHTS

1. Bitcoin & Ethereum Spot ETF's to launch in Australia next week

2. Tesla still holds $1.26 Billion Bitcoin according to latest earnings report

3. PORSCHE now accepts Bitcoin in Maryland. U.S. dealership.

4. "Bitcoin Maximalism is holding industry back," according to Ripple CEO

5. 3.6M Americans to use crypto to make a purchase in 2022, research firm predicts

On-Chain Insight

According to Glassnode Grayscale id the largest institutional holder of Bitcoin while the US & Ukraine by either accepting donations or seizing Bitcoin, now hold significant sums of the Digital Asset.

Who will be next?

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DID YOU KNOW?

Luxury car distributor, EuroSports Global, now accepts #Bitcoin and crypto as a payment method.

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