#BTCRebound Bitcoin Rebound Analysis

Recent Performance

2025 Decline: BTC peaked at $109,021 earlier in 2025 but fell to $76,642 by March 11 due to profit-taking and bearish sentiment, exacerbated by events like the “Black Monday” crash and Trump’s tariff announcements.

Recovery Signs: Since mid-March, BTC has climbed, trading at $84,068 on April 20, 2025, with a market cap of $1.66 trillion and a 2.43% increase in the past 24 hours. Posts on X note a strong reclaim of the $76,000 support level, with potential to reach $87,000–$88,000.

Technical Indicators:

Ascending Parallel Channel: BTC is trading within this bullish pattern, signaling gradual price increases as buying momentum grows.

Relative Strength Index (RSI): At 51.48, RSI indicates growing bullish momentum, with values above 50 suggesting potential for further gains.

Moving Averages: The 200-day moving average is rising, supporting long-term strength, though the 50-day moving average’s downward slope on shorter timeframes suggests mixed signals.

Support and Resistance: Key support lies at $76,000–$78,000, with resistance at $89,434 and $93,478. A break above $89,434 could trigger a rally toward $95,000.