What to Expect for $BTC This Week
$BTC C is trading around $93,500 as of April 23, 2025, marking a 25 % rally from its April lows near $74,450 .
It has decisively broken above the 200-day moving average, a classic bullish signal confirmed by multiple analysts .
The Relative Strength Index (RSI) sits above 50—approaching 60—indicating renewed buying strength, though overextension risks remain .
Immediate resistance lies at $95,000, with the key psychological barrier at $100,000; a decisive close above could target $107,000 based on measured-move projections .
On the downside, critical supports cluster at $88,000 (recent breakout level) and deeper at $85,000, aligned with the Ichimoku Cloud base .
Last week saw over $317 million in BTC short liquidations, fueling the current squeeze and underscoring the power of leveraged positions .
However, the looming death cross between the 50- and 200-day MAs still hangs over the market; remember that not every death cross leads to a major downturn .
Institutional flows remain strong—spot BTC ETFs recorded $912.7 million of net inflows on April 22—adding further fuel to the rally .
Trading volumes, however, have been relatively subdued compared to price action, suggesting mixed sentiment that could translate into sharp intraday swings .
Watch for a daily close above $95K to confirm continuation, or a break below $88K to signal a deeper pullback—either scenario offers clear entries for nimble traders.
