15/05/23 Weekly outlook

15 May 2023

Last weeks high: $28610.2
Last weeks low: $25768.1
Midpoint: $27189.1

BTC dropping from weekly high at the start of the week to the lows in an almost linear diagonal decline, baring the anomaly of the CPI news Wednesday. Followed by a retracement back to the midpoint of the week after a weekend pump.

The week has started positively by flipping the midpoint of the previous week, with a retest and acceptance above could be bullish and I would expect a run up to 29K, where we go from there is anyone's guess as we have been ranging for a little while now.

A retest of the 25.2k level before a continue in rallying price makes the most sense to me.

16 May 2023

Not

Losing the midpoint of the weekly range, consolidating underneath and looks primed for further decline unless the midpoint is reclaimed. Keeping a close eye on the 27.2K

17 May 2023

Not

Looking like we lost the midpoint, retested twice and confirmed as resistance and now targeting the previous weekly low.

19 May 2023

Not

The 0.25 line has yet to be lost this week, however I wouldn't rule out a retest of the lows before weekly close