BITCOIN encounters resistance ahead of May macro events

28 Apr 2023

Recent market activity indicates that the Bitcoin price experienced liquidity on April 23rd, which could potentially lead to a price increase. However, it is important to note that the price has faced resistance in its efforts to surpass the bearish breaker range of 229,630 to 330,480, and investors should expect the price to remain below the crucial psychological level of 330,000. Furthermore, the market is likely to experience volatility in the first and second week of May due to macroeconomic events that are forthcoming, and traders are expected to adjust their positions accordingly. The absence of bullish momentum in the Bitcoin price suggests that there may be a potential for exhaustion after its remarkable surge in Q1 of 2023.