Technical Analysis of Bitcoin - Wednesday, April 30, 2025
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🌺Current Price:
Bitcoin is trading at $93,872, up approximately 0.77% in the last 24 hours.
🌺Technical Analysis:
1. Moving Averages (MA):
The price is above the 20, 50, 100, and 200-day moving averages, reflecting a stable upward trend.
2. Relative Strength Index (RSI):
Value: 67.64 – close to the overbought zone, indicating a potential price correction soon.
3. MACD Indicator:
Value: 2739.64 – supports the continuation of the upward trend.
4. ADX Indicator:
Value: 21.13 – indicates that the upward trend is of medium strength.
🌺Support and Resistance:
Support: $93,535
Resistance: $94,930
✅Recommendation:
The market is bullish, and positions can be held or bought on dips but with caution for a potential correction.
