BTC outlook for 2 May 2022.
BTC has made a perfect retest on my long term trend line and has rejected it to the upside indicating that BTC remains bullish over the long term. As long as this trend line is respected I do believe we will see the start of a nice bull run over the next month. I would like to see BTC push over the course of the next week towards the 40k level and close well above it as this is a strong psychological level to break above. The longer BTC fails to break above the 40k level the more likely it will drop back down towards my long term trend line and possibly break it to the downside, starting the bear market.
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