Part 2/6:
A notable indicator to follow is the M2 supply, which has recently shown significant growth. Traditionally, Bitcoin prices track along with the M2 supply changes. Projections indicate a potential price increase in Bitcoin as we approach the end of April. Investors are hopeful for the price to stabilize above the 50 MA in the following weekly candle.
Bullish vs. Bearish Scenarios
When discussing potential price movements, two scenarios emerge:
- Bullish Case: If Bitcoin manages to close the weekly candle above the 50 MA, this could indicate a recovery. Some analysts speculate a retest of previous highs around 73K could occur before an upward trend resumes.