Bitcoin Bullish Continuation Towards $128KBTC/USD | 1D Chart | April 2025
๐ Technical Analysis:
Bitcoin is maintaining its bullish structure within a well-defined ascending channel. The price has bounced off the lower trendline (green), which has provided strong support multiple times (see green arrows).
Currently, BTC is consolidating near $83,800, and a breakout from this zone could initiate the next impulsive move towards the midline and upper trendline resistance (~$128,000).
Support Levels: ~$80,000 (trendline)
Resistance Levels: ~$90,000, ~$110,000, and ~$128,000
Bullish Trigger: A confirmed breakout above $90,000 could signal strong continuation
๐ Fundamental Analysis:
Bitcoin Halving (April 2024): Historically, BTC rallies post-halving due to reduced supply. The next supply shock could fuel a rally.
Institutional Demand: Spot Bitcoin ETFs continue to see record inflows, with firms like BlackRock and Fidelity accumulating BTC aggressively.
Macroeconomic Factors: With inflation concerns persisting, investors are turning to Bitcoin as a hedge, pushing prices higher.
๐ Trade Idea:
Entry: $84,000 (Breakout Confirmation)
Stop Loss: $79,000 (Below Trendline)
Target Range: $110,000 โ $128,000 (Channel Resistance)