Bitcoin and Hopes for a Bullish Rally!

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 Bitcoin and Hopes for a Bullish Rally!

 

The key support and resistance level ahead for BTC/USD is as follows:
•Third Key resistance level of BTC/USD: 91500
• Second Key resistance level of BTC/USD: 88500
• First key resistance level of BTC/USD: 86100
• First key support level of BTC/USD: 83000
• Second Key support level of BTC/USD: 81800
•Third Key support level of BTC/USD: 80000
 
Bitcoin and Hopes for a Bullish Rally!
As referenced in the prior Bitcoin analysis dated 09/04/2025, the price exhibited the potential for an upward trajectory towards the $79,000 - $80,500 range, a scenario that ultimately materialized.
In the current circumstances, based on longer-term timeframes such as the monthly and weekly charts, indications of a trend reversal and the conclusion of a correction phase have formed, warranting attention. The formation of a Doji candlestick pattern on the monthly timeframe, coupled with the price's inability to breach the previous price floor of $76,600 weekly, has rendered conditions less conducive for a more significant correction.
On shorter-term timeframes, including the daily and 4-hour charts, a price floor has been established above the key level of $73,900, and buyers have successfully broken the descending trendline (mentioned in prior analyses), thereby improving the conditions for an upward movement.
Should the bullish configuration persist, buyers' immediate target resistance levels are $88,500, followed by $91,500.
Conversely, in a bearish scenario, the initial warning sign would be the breach of the $83,000 support level, considering downward probabilities. In such an eventuality, the $81,800 and $80,000 levels would be considered significant support targets on the chart.
 

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