According to BlockBeats, TradingView data shows that Bitcoin is maintaining a narrow range before the monthly close and the release of important U.S. macro data. The market is focused on the first quarter GDP data and the March PCE index.
The trading information platform Kobeissi Letter pointed out that the market predicts negative GDP growth, which is the first time since the second quarter of 2022. Despite the volatility in risk assets, Bitcoin traders remain bullish.
Trader Cold Blooded Shiller and analyst Michaël van de Poppe believe Bitcoin is likely to break through resistance. Jelle noted that sell order liquidity is concentrated at $96,000.
Bitcoin rose 15% in April and is expected to achieve the best April gains since 2020. Analyst Rekt Capital pointed out that Bitcoin will complete its monthly close in the $93,300-$96,500 range.
