#BTC
š BTC Technical Snapshot ā April 29, 2025
Current Price: ~$94,662
24h Change: +1.16%
Market Cap: $1.87 trillion
24h Volume: $32.12 billion
Trend: Bullish with near-term resistance
---
š Key Technical Indicators
EMA50 Support: BTC is trading above the 50-day EMA, reinforcing bullish momentum.
RSI: The Relative Strength Index is rebounding from neutral levels, indicating renewed buying interest.
Ichimoku Cloud: Price action remains within the bullish zone, but a breakout above $95,364 is needed for further confirmation.
Elliott Wave Outlook: A move above $96,143 would invalidate the current corrective wave, potentially targeting $109,427.
---
š Support & Resistance Levels
Immediate Resistance: $95,364 (pivot), followed by $99,293
Key Support: $92,463 and $90,805
A drop below $90,817 could trigger a deeper correction toward $74,322.
---
š° Market Drivers
Institutional Activity: BlackRock's recent purchase of 10,243 BTC (~$970.9M) signals strong institutional demand.
On-Chain Metrics: Active BTC addresses have surged past 800,000, indicating heightened network activity.
ETF Flows: While Invesco reported zero net inflow today, overall ETF interest remains robust.
---
š§ Summary
Bitcoin is exhibiting strong bullish momentum, supported by technical indicators and institutional interest. However, traders should watch for potential resistance around $95,364 and be cautious of a drop below $90,817, which could signal a deeper correction.
---
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
