BTC face pivotal zones - 27 April 2025

[Forum Admin]

To us, that'll be the key. If we get a correction down to $90,000/$91,700 and bounce there, that'll be a big sign of strength. However, if the $90,000 level is lost, we'd expect a revisit to the Yellow box at $86,000.

Our trading floor has been busy lately, with much knowledge, setups, and positive P&Ls. This report will summarize our latest market analysis with everything you need to know to level your trading. Let's dive in.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

BTC

• BTC's Open Interest spiked significantly with Longs piling in as Shorts were squeezed. Open Interest remains high, and Funding Rates are favorable, suggesting the Short squeeze is mostly over.
  
• BTC will now need a strong Spot bid to continue higher.
  

Technical analysis

• BTC is battling to reclaim its old range between $91,700 and $98,900, and so far, it's holding well above $91,700.
  
• A key on-chain level is $92,500; this is the Short-Term Holder cost basis, so that's a key level for BTC to maintain above if it can.
  
• We're currently looking at the central zone of support, which is between $90,000 (psychological level) and $91,700. A break below $90,000 would likely lead to a retest of the Yellow Box at $86,000.
  
• The local resistance is likely to be at $95,700 with $98,900 as the primary horizontal resistance for the price.
  
• The price is close to overbought territory on the RSI. It could push higher here, but further upside in the short term is likely limited.
  

Bitcoin technical analysis chart with key support and resistance zones highlighted

• Next Support: $90,000
  
• Next Resistance: $95,700
  
• Direction: Neutral
  
• Upside Target: $98,900
  
• Downside Target: $86,000
  

Overall, a decisive move higher, breaking out of the downtrend line and reclaiming the $91,700 horizontal level. However, in the short term, we expect the next move to be a correction, but to what level?

Our conviction in the next move isn't high, and we're relatively unsure what short-term price action will be like. Depending on how price action responds over the coming week, we'll be flexible on our entry levels. For now, we're still patient.

What’s next?
BTC, ETH, and SOL push higher into key resistance zones, but momentum shows early signs of stalling. HYPE looks close to exhaustion, and we're preparing for a shift in market dynamics over the coming days.