Bitcoin (BTC) Breaks Critical Level, Is Further Bullishness Unstoppable?
Jakarta, Pintu News – This week’s market recovery has pushed Bitcoin (BTC) up by more than 10%, attempting to break the long-awaited key barrier again. Some analysts believe that the major cryptocurrency is poised to continue its bullish rally, while others emphasize the importance of defending key levels to determine Bitcoin’s (BTC) next move.
The Promising Recovery of Bitcoin (BTC)
After experiencing a correction below $80,000 in early April, Bitcoin (BTC) has bounced back with an 11% gain in the last week. On Friday, the cryptocurrency with the largest market capitalization managed to reclaim the $85,000 mark, which has been an important barrier since late March.
Since then, Bitcoin (BTC) has broken several key levels, including the $90,000 resistance on Tuesday and managed to hold it for the past 24 hours. Analyst Daan Crypto Trades pointed out that Bitcoin (BTC) has a “solid recovery back to its previous range and above the Daily 200MA/EMA.”
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Critical Levels to Maintain
Bitcoin (BTC) is now trading within a significant area, retesting its multi-month downtrend line and Daily 200 Exponential Moving Average (EMA) and Moving Average (MA). After Thursday’s spike that triggered the ongoing recovery, Bitcoin (BTC) managed to break out of its four-month downtrend.
The cryptocurrency bounced off the Daily 200EMA and briefly consolidated below the Daily 200MA before finally breaking the level yesterday. This pointed the cryptocurrency towards a “key level to break,” which is the $90,000-$91,000 range. However, the analyst suggested that Bitcoin (BTC) should continue to hold the region to confirm that this breakout is not just “a scramble for liquidity to fall back down.”
Bitcoin (BTC) Weekly Close Analysis
Crypto Jelle called the $93,500 resistance the “bears’ last line of defense,” stating that once Bitcoin (BTC) recovers the level, “all bets are off.” Meanwhile, Rekt Capital noted that Bitcoin (BTC) has “rallied in an attempt to resynchronize with its previous ReAccumulation Range and confirm the end of its first Price Discovery Correction.”
He highlighted that after yesterday’s performance, BTC has almost reached the end of its downside deviation, asserting that the cryptocurrency needs to stabilize above the $93,500 level. To achieve this, Bitcoin (BTC) needs a weekly close above this critical level and claim it as new support. He also highlighted that it repeats its mid-2021 price performance “very well.”
The Future of Bitcoin (BTC) After Key Recovery
Currently, Bitcoin (BTC) is trading at $93,459, with an 8.2% surge in the monthly time frame. With this significant recovery, the world’s largest cryptocurrency is showing signs of strength that may lead to more gains. However, success in sustaining and building above this critical level will largely determine the long-term direction of Bitcoin (BTC).
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. All Bets Off if Bitcoin Reclaims This Level, But Analysts Warn of Potential Rejection. Accessed on April 24, 2025
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