As of April 29, 2025, # Bitcoin (BTC) is trading at approximately $95,083 USDT. Here's an analysis of its potential price movement over the coming week:
đ Current Market Overview
Bitcoin has recently surged to around $93,500, bringing the psychologically significant $100,000 mark back into focus. This rally is attributed to broader optimism in financial markets, including indications that U.S. tariffs on China may be reduced and reassurances about the Federal Reserve's independence. Bitcoin is up about 25% from its April 2025 low, benefiting from investor interest amid stock volatility and a weakening U.S. dollar. (Watch These Bitcoin Price Levels as Key $100K Level Back in Striking Distance)
đ Technical Indicators
Relative Strength Index (RSI): Currently above 50, indicating bullish momentum without being overbought. ($BTC /USDT Technical Analysis & Outlook Current Price: 98,08 | ICT bull on Binance Square)
Moving Averages: Bitcoin has broken out of a four-month falling wedge pattern and closed above the 200-day moving average, suggesting a shift to a bullish trend. (Watch These Bitcoin Price Levels as Key $100K Level Back in Striking Distance)
MACD: Shows a bullish crossover, supporting the potential for an uptrend. ($BTC /USDT Technical Analysis & Outlook Current Price: 98,08 | ICT bull on Binance Square)
đ Key Support and Resistance Levels
Resistance: $100,000 â A significant psychological level; a decisive close above this could target $107,000. (Watch These Bitcoin Price Levels as Key $100K Level Back in Striking Distance)
Support: $85,000 â Aligns with recent breakout levels; a deeper pullback could bring prices to $76,000, an area of potential investor accumulation. (Watch These Bitcoin Price Levels as Key $100K Level Back in Striking Distance)
đ§ Outlook for the Coming Week
The bullish trend is supported by positive technical indicators and market sentiment. However, caution is advised as trading volumes have been weak, reflecting cautious sentiment among investors. (Watch These Bitcoin Price Levels as Key $100K)