Crypto Technical Analysis Report 24th April 2025
Bitcoin climbed toward the $95,000 level on April 23, buoyed by strong inflows into spot BTC ETFs and an improving macroeconomic backdrop in the U.S. Investor sentiment has notably turned optimistic, with Farside Investors reporting substantial net inflows $381.3 million on April 21, followed by a massive $912.7 million on April 22. On the technical front, the 20-day EMA is beginning to trend upward, and the RSI nearing the overbought zone hints at strong bullish momentum. All signs suggest that buyers currently have the upper hand, with upward continuation likely if momentum sustains.
BTC-USDT Daily Chart:
BTC, after making an all-time high of $109,588, started to trade in a downtrend and corrected by almost 32%, making a low of $74,508. The asset formed a Long-Legged Spinning Top candle near the key support of $73,500 (indicating indecision in trend), and the price bounced up to $86,000. Following this move, BTC began consolidating and traded in a range between $83,000 and $86,000. The asset eventually gave a breakout above the range with strong volumes and rallied up to $94,696. BTC faces strong resistance at $100,000 and $110,000, while $90,000 and $73,500 will act as strong support levels.
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