Bitcoin Bullish Return Last Week
Bitcoin experienced a significant rebound last week, with a cumulative increase of 10%. Senior analyst at Cointelegraph pointed out this morning (4/28) that as the new week begins, technical indicators remain bullish.
One reason for Bitcoin's surge last week may be related to a large influx of funds into the U.S. Bitcoin spot ETF. Data from Farside Investors shows that the ETF had a net inflow of $3.06 billion last week, the second-highest in history.
Sina, co-founder of 21 Capital, predicts that Bitcoin will reach between $130,000 and $163,000 by the end of 2025; anonymous Bitcoin analyst apsk32 is even more optimistic, predicting that Bitcoin will rise above $200,000 in the fourth quarter of this year.
Upadhyay pointed out that Bitcoin's main support level on the daily chart is at the 20-day Exponential Moving Average (EMA) of $88,619. If it can close above $95,000 this week, it is likely to challenge the $100,000 milestone.
This week, can Bitcoin maintain its bullish trend and break through the resistance above? Which altcoins might perform better during Bitcoin's rebound? Upadhyay named 4 altcoins and provided short-term support and resistance level analysis for reference.
Trump Coin ($TRUMP)
Upadhyay noted that Trump Coin ($TRUMP) broke through the resistance level of $12.45 on April 23 and managed to hold the retest of the breakout level on April 24.
From the daily trend, Trump Coin once rose above $16, attracting sellers, but the pullback was relatively small, indicating that there was buying interest during each minor dip.
If the bulls can push the price above $16 this week, it may further challenge $17.69, where bears are expected to build a strong defense. However, if the bulls break through strongly, it could soar to $19.60 and then reach $22.40.
If it can rebound from the support area, then $TRUMP may fluctuate between $11.56 and $16 for a while, but if it further breaks below the 20-day EMA ($10.73), it could accelerate selling pressure.
