As we discussed in last week’s briefings, Bitcoin has once again started to turn bullish. With tax season officially over, the crypto market faces less selling pressure and can begin its rally again. Our next short term price target for Bitcoin is between $49,000 and $52,000. As Bitcoin starts its recovery in earnest, we should begin to see more altcoins enjoy parabolic moves to the upside. Aside from technical analysis we rely on a variety of tools that give us an edge in our market analysis. For example in the stock market we monitor market cycles, market sentiment, and fundamentals. For our research in the crypto market this extends to on-chain data. Currently, we are seeing a net outflow of Bitcoin from exchanges. Whenever this chart reaches an oversold level, you can expect a large rally to occur shortly thereafter.