After a relatively quiet week, Bitcoin closed its weekly candle right at our $69k major pivot level. This week’s price action will tell us whether Bitcoin is ready to head higher by reclaiming this level or if it needs more time to consolidate by getting rejected. In the meantime, there really isn’t much to do besides patiently wait for Bitcoin to decide its next move. Many traders and investors make costly mistakes during these time periods out of boredom, but the best course of action during these tight choppy ranges is usually no action.

Market sentiment remains fearful. It has been slowly rising as investors become more and more comfortable with this price area which is the exact type of sentiment reset we would expect from this type of consolidation period. $69k was a price level that triggered extreme fear just a few weeks ago and now sentiment is very close to being Neutral at that same price. It never ceases to amaze me just how fast investor psychology adapts to new prices after just a few weeks of consolidation.

The GLI has been chopping sideways over the past few weeks. This sideways chop is driven by the sideways consolidation we have seen in the US Dollar. The US Dollar will likely remain strong as long as energy prices remain elevated due to the geopolitical conflict. All investors can really do for now is manage risk and wait for a clear trend to form. Making predictions during these time periods is tempting, but in reality it is impossible to predict what path this geopolitical situation will take.

We will be receiving an update to the FED’s preferred measure of inflation, Core PCE, on Thursday, April 9th. The market will be watching this print very closely to see what impact higher energy prices have had on inflation. The market is expecting the YoY number to drop from 3.1% to 3.0% so we really don’t want to see this print come in above expectations. If it does, it will further push back rate cuts, strengthen the US Dollar, tighten liquidity and put downward pressure on risk assets.

Bitcoin is still in the Cheap region based on where it is in relation to its 200W MA. Buying this close to the 200W MA in the past has been very profitable for long-term-oriented investors. Bitcoin may enter the Very Cheap region if traditional markets head lower in 2026 due to the geopolitical situation or some other catalyst, but I’m happy to take advantage of the Cheap region while we are here.

No changes were made to my portfolio this week. I have already deployed all the dry powder I want to deploy in the Cheap region and since price barely moved over the past week, there is no need for rebalancing. The dry powder I have left will only be deployed if Bitcoin enters the Very Cheap region so I hope it does so at some point in 2026. In the meantime, I will just patiently sit on my positions and wait for the market to give me a reason to take profits or buy the dip.

P.S. If you made it to the end of this report, thank you for reading and I hope you got some value from it. If you’d like to view my exact portfolio changes, my entire portfolio outside of just crypto and would like to learn more about my Portfolio Automation System, checkout the Crypto Enjoyers program and community. You can learn more about it here:

I hope you have an amazing week and the future looks bright. 🤝