Looking at the Bitcoin chart this week, we are still in the month long funnel between $30k and $40k. While Bitcoin has moved both up and down on those marks, it hasn’t closed a bar higher to confirm a new trend. We need a bar to close above $40k if we want to see a new trend occur. If not, we may remain sideways most of the Summer.
Same goes for a bar close below $30k, which would likely take us lower in price. But there is no initial sign that this will happen as of yet. We are down over the last 3 months, but way up on the year!