📊 Bitcoin Technical Analysis & Trading Plan – April 28, 2025
As of April 28, 2025, Bitcoin (BTC) is trading at $93,822.00 on Binance, experiencing a slight decrease of -0.08% over the past 24 hours.
🔍 Technical Overview
Trend: BTC has broken out of a four-month falling wedge pattern, indicating a bullish reversal.
Support Levels:
**$85,000**: Anchored by the 50-day moving average, serving as a reliable floor.
**$83,000**: Critical to maintain the bullish uptrend.
Resistance Levels:
**$95,900**: Next significant resistance after surpassing $88,800.
**$100,000**: Psychological barrier; a decisive close above could target $107,000.
Indicators:
BTC has closed above the 200-day moving average.
Relative Strength Index (RSI) is above 50, confirming bullish momentum.
🧭 Suggested Trading Plan
Entry Point: Consider entering around $92,000–$93,000 to capitalize on potential upward movement.
Take Profit Targets:
🎯 First Target: $95,900
🎯 Second Target: $98,600
🎯 Extended Target: $102,000
Stop-Loss: Set at $85,000 to manage downside risk.
Risk Management: Use a risk-reward ratio of 1:2 or better.
⚠️ Cautionary Notes
Monitor for potential pullbacks to $86,000, as markets often revisit breakout points before further rallies.
Be aware of macroeconomic factors, such as U.S. dollar fluctuations and Federal Reserve policies, which can impact BTC's price.
Stay updated with market news and adjust your trading plan accordingly.
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