Bitcoin (BTC) Analysis - April 30, 2025
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$BTC Technical Analysis
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Weekly Framework:
BTC shows a solid upward channel, with higher lows and higher highs. Key resistance is at $100,000, while support is at $87,500. The weekly RSI is at 72, indicating bullish momentum, but close to overbought levels. Be cautious of a potential correction if it doesn't break $100K soon!
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Daily Framework:
The price consolidates near $94,932 after a -0.039% pullback in the last 24 hours. The 200-day moving average ($85,300) acts as dynamic support. A bullish crossover in the MACD reinforces the positive bias, but low liquidity could limit sharp movements.
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On-Chain: Exchange Activity: Glassnode reports an increase of $39.1B in "hot capital," suggesting high trading activity. ETFs: BlackRock increased its holdings by 10,249 BTC (~$970M), with inflows of $591.3M in Bitcoin ETFs on April 28. This reflects strong institutional demand. STH Movements: CryptoQuant notes that 170,000 BTC from short-term holders (3-6 months) are in circulation, which could generate volatility.
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Market Sentiment: The fear and greed index is at 74 ("Greed"), showing optimism. Posts on X highlight a bullish narrative, emphasizing the accumulation of holders and a possible "supply shock" due to fewer BTC on exchanges.
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Possible Scenarios: Bullish: If BTC breaks $95,900, the next target is $100,000, with potential towards $106,000 if volume supports. Bearish: A drop below $87,500 could lead the price to $85,300 (200 EMA). Thin liquidity increases the risk of rapid pullbacks.
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Conclusion:
BTC is in a consolidation phase with a bullish bias, but low liquidity and movements from short-term holders suggest caution. Watch $95,900 on the upside and $87,500 on the downside as key levels. Ready for the next move?
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