BTC Weekly Technical Analysis by Mako Sharks

Bitcoin kick's off its week at 68.9k! First of all Happy Easter sharks! We enter April with a battle for the weekly 200EMA, support or resistance?! After 5 red months we closed the last one green and the question arises: can BTC connect 2 green months despite the broader context which is anything but beautiful?! Can Bulls save the February low or will Hopium have to be ignited from new lows?! 🎀😎🥚

Finally a green month behind Bulls but little comfort comes with it. Tough tasks ahead for Bulls! To ignite Hopium it is crucial to successfully reclaim the weekly 200EMA 68.3k and the daily 21SMA 68.8k and ideally stay above the daily 55EMA 70.9k and Previous Week High (PWH) 69.2k on a basis of daily closes in order to get a legit chance for a challange of March high 76k & January low 75.6k which have in the last 2 months proven to be an insurmountable obstacle! 🌜 🎇 🌈

New month but same objectives! With almost no changes we enter April, BTC still on thin ice. Ideal for Bears is to keep BTC below the daily 21SMA 68.9k, 55EMA 70.9k & weekly 200EMA 68.3k on a basis of daily closes throughout the week and get a break below Previous Week Low (PWL) 65.6k which would create new trouble for Bulls and compromise the Hopium! It is crucial to get any daily close below the February low 60.1k which would push BTC into new lows. 💀 😒 😉