Hello everyone, friends!
Today is April 30 and the most important news, in my opinion, that can affect the market is the sentencing in the States of CZ, the former CEO and founder of the Binance exchange.
So far, at the level of rumors, but the situation regarding him has not changed for the better and he may receive a sentence of more than 18 months, and house arrest may also not be enough.
Therefore, if there is bad news today, then with a high probability the price will continue to decline to the main support block of $59,500-61,000.
It is quite possible that we will see a deep squeeze under this zone and a return back.
Taking into account my expectations from previous reviews, the cue ball also continues, for now, to move in a downward local channel and remains in the sideways large range of $61K-73K
As I said last time, I do not exclude the possibility of moving under the key support block, and the formation of a new side range already below it, again, within the descending channel.
We are watching this block $59500-61000, how it will be held and protected. Based on the negative news, for the most part, I expect a spill to the $53K area. Good news is needed to grow and exit the downward channel.
Ether, as I said in recent reviews, continues to move within the descending channel, both in pairs with the dollar and with Bitcoin, over the last two days, Ether has been weakening. I still expect another decline to the minimum of $2600-2650, and paired with the cue ball to the global support of 0.044.
