#Bitcoin 4-Hour Chart Analysis – 24 April 2025
Current Price: Bitcoin is trading around $92,700
Immediate #Resistance Levels:
First resistance is at the $94,000 zone
#Major resistance lies at the psychological level of $100,000
Immediate Support Levels:
First support is at $90,700
Stronger supports are at $88,500, and further below at $76,700
(Relative Strength Index):
RSI is currently around 65, which was slightly overbought earlier but is now cooling off
The trend remains bullish as long as RSI stays above 55
#MACD (Moving Average Convergence Divergence):
MACD showed a bullish crossover, but now momentum is slowing down
The histogram is showing fewer green bars, which indicates a bit of weakness in buying pressure
#Volume :
Volume is currently low, suggesting that traders are being cautious
For a strong breakout, high volume is essential, otherwise there's a risk of a fakeout
#Fundamental $Updates:
Institutions have been buying Bitcoin heavily in April, while retail investors are selling
Donald Trump has ordered the creation of a Strategic Bitcoin Reserve, aiming to recognize BTC as a national asset
A new investment firm called “Twenty One Capital” has launched, focused solely on buying Bitcoin — it is backed by Tether and Softbank