Here is an updated analysis of Bitcoin (BTC) until April 29, 2025, including technical performance, influencing factors, and price forecasts:
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🔢 Current price and performance
The current price of Bitcoin is approximately $95,206, with a slight decrease of 0.3% over the past 24 hours. The currency has seen an 11% rise over the past week, reflecting a significant recovery after dropping to $76,000 in early April.
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📊 Technical analysis
• 200-day moving average: has been broken upward, indicating a positive shift in the overall trend.
• Relative Strength Index (RSI): exceeding 50, indicating strong bullish momentum.
• Descending wedge pattern: has broken upward, reinforcing expectations of further increases.
• Support and resistance levels:
• Support: between $85,000 and **$76,000**.
• Resistance: at $100,000, an important psychological and technical barrier.
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🧭 Influencing factors
• U.S. policies: President Trump's statements about reducing tariffs and enhancing the independence of the Federal Reserve have increased market confidence, supporting Bitcoin's rise.
• Shift from traditional assets: increasing investor interest in Bitcoin as an alternative safe haven to gold and U.S. bonds, especially with a weakening dollar.
• Institutional interest: expectations of increased investments from pension funds and sovereign wealth funds in Bitcoin, which could boost demand.
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📈 Price forecasts for 2025
• Standard Chartered: predicts Bitcoin will reach $120,000 in the second quarter, with the potential to hit $200,000 by the end of the year.
• Power Law model: indicates the potential for the price to reach $200,000 in the fourth quarter, based on previous market cycles.
• Changelly: expects an average price between $132,000 and **$138,500** by the end of the year, with potential fluctuations in mid-year.
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🧠 Summary
Bitcoin shows strong bullish signals, supported by technical and fundamental factors. However, the $100,000 barrier remains a key resistance level to watch. Institutional interest and global economic policies will remain critical factors in determining the future price direction.
