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Source: TradingView & BingX
The 4-hour chart of BTC/USDT on April 21, 2025, shows Bitcoin experiencing a significant surge over the past day. Starting at $83,949.50 on April 20, the price has risen sharply to a real-time value of $87,415, marking a 3.62% increase within the last 24 hours. This upward movement follows a consolidation phase between $80,000 and $84,000, with the price breaking above the recent high of $83,949.50 and reaching $87,738.00 before a slight pullback. From a 1-day perspective, this rally suggests a potential resumption of bullish momentum, as Bitcoin moves closer to the 200-day moving average of $87,929.93, indicating a possible shift in the broader trend after weeks of correction.
Technical indicators on the 4-hour chart support the bullish momentum. The MACD (12,26,9) shows a value of -520.30, a DEA of -424.40, and a histogram at -423.57, indicating that while the trend has been bearish, the gap is narrowing, hinting at a potential bullish crossover if the rally continues. The RSI (14) at 64.33 is approaching overbought territory, reflecting strong buying pressure, while the KDJ (K: 77.29, D: 54.39) is in bullish territory, supporting the upward momentum. The volume spiked to 409.57K during the rally to $87,738.00, indicating significant buying interest; however, it has since decreased to 14.66K, suggesting a possible pause in the surge. On the 1-day chart, the price’s approach to the 200-day moving average at $87,929.93 is a critical level, and a sustained break above this could confirm a bullish trend reversal.
Looking ahead, Bitcoin’s short-term outlook appears bullish but with caution. On the 4-hour chart, the current price of $87,415 is testing resistance around $87,738.00, and a break above this level could lead to a push toward $90,000. However, the RSI nearing overbought levels suggests a potential pullback, with support at $85,000 and $83,949.50 if selling pressure emerges. On the 1-day chart, a sustained move above the 200-day moving average at $87,929.93 would confirm a bullish trend, targeting $92,000, while a failure to hold above $85,000 could see a retest of $80,000. Traders should watch for $87,929.93 as a key resistance and $85,000 as immediate support in the near term.
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