Bullish News Continues To Pile Up, While the Price of Bitcoin Remains Stuck in Its Range. What’s Next?
It is fundamental that you focus on the real signal.
The days are similar regarding the Bitcoin price lately. The sentiment is still one of extreme fear as the price continues to move in an ascending range. We are currently at the bottom of the range, but nothing to be alarmed about:
This situation could continue for some time as the markets are in a state of uncertainty. The war in Ukraine looks set to last for many months, and no one can yet really measure all the consequences this will have on the economy. However, we seem to be heading for a recession with the US economy slowing down sharply in the first quarter of 2022.
The Fed's announcements at the end of the FOMC Meeting on May 3-4, 2022 will be highly anticipated. They should have a strong impact on Bitcoin's price action in the near term.
In the meantime, here are the price levels you should watch for in the short to medium term:
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