| 
May 02, 2023
Bitcoin posts light gains on a low-volatility day, ranging between $27,929 – $28,671 and is now at $28,657.
Bitcoin is currently trading at $28,657 following the release of JOLTs Job Openings (Mar) data from the United States.
At the same time, United States JOLTs Job Openings (Mar) released today at 14:00 UTC with a figure of 9.59 million, while the previous figure was 9.97 million. United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States Factory Orders released earlier showed a marked improvement to 0.9% from the preceding data of -1.1%, but fell short of the 1.1% figure forecast by a consensus of market analysts.
Bitcoin made an initial breakout above its 50 day Simple Moving Average at $28,232, a potential indicator of a newly emerging bullish phase. Bitcoin is currently trading around the $28,200 Fibonacci resistance level. On the other hand, note that Bitcoin is $120.23 away from testing key resistance at $28,777. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems Bitcoin might continue pointing upwards in the short term.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS is up 2.24%.
Meanwhile, UNICORN Token USD decreases 2.98% to trade around $6.43.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with -1,000,000, having previously been at -5 million. The figure will be published tomorrow at 14:30 UTC.
Also worthy of note, United States Interest Rate is expected tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Apr) is scheduled for tomorrow at 12:15 UTC.
Bitcoin has gained 65.35% since its lowest print of $15,759 earlier this year.
