Review of the Bitcoin Status as of 2025.04.24

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 Review of the Bitcoin Status as of 2025.04.24

 

 
The key support and resistance levels ahead for BTC/USD are as follows:
•Third Key resistance level of BTC/USD: 98800
• Second Key resistance level of BTC/USD: 96300
• First key resistance level of BTC/USD: 94700
• First key support level of BTC/USD: 91800
• Second Key support level of BTC/USD: 88600
•Third Key support level of BTC/USD: 86000
 
Review of the Bitcoin Status as of 2025.04.24
As mentioned in the previous analysis of the Bitcoin chart dated 2025.04.15, this market leader had the potential for upward movement, which ultimately occurred, and buyers initiated a good upward rally.

While stock indices are bearish, the price surge and optimism for an increase in the crypto market indicate a degree of independence. Positive fundamental factors, such as hope in the trade war with China, have also influenced the rise in prices.

Currently, in longer time frames such as monthly and weekly, the price has moved somewhat away from a deeper correction pattern, and with the increase and stabilization of prices above the key level of 88600 dollars, the situation has become more favorable for an upward movement.

If the upward formation is maintained, the next target for buyers is the resistance level of 96300 dollars, which initially requires overcoming the resistance peak of 94700 dollars.

From a technical perspective, in a bearish scenario, if the price breaks below the key level of 88600 dollars, optimism for an upward movement will diminish, and the potential for the price to reach the support level of 82000 dollars will strengthen.
 

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