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Source: TradingView & BingX
The 4-hour chart of BTC/USDT on April 23, 2025, shows Bitcoin continuing its upward momentum over the past day. Starting at $94,194.72 on April 22, the price has risen to a real-time value of $94,303. This follows a significant rally from $83,949.42 earlier in the week, with the price peaking at $94,514.79 before a slight pullback. On a 1-day perspective, this upward movement indicates a strong bullish trend, as Bitcoin has surpassed the 200-day moving average of $89,065.10 and is approaching the recent high of $94,514.79, suggesting sustained buying interest after a period of consolidation.
Technical indicators on the 4-hour chart confirm the bullish sentiment. The MACD (12,26,9) shows a value of 1328.18, a DEA of 139.19, and a histogram at 97.18, indicating a bullish crossover and strong upward momentum. The RSI (14) at 74.63 is in overbought territory, reflecting intense buying pressure, while the KDJ (K: 79.10, D: 74.63) also signals overbought conditions, suggesting a potential for a short-term pullback. Volume spiked to 948.47K during the rally to $94,514.79, but has since dropped to 2,048, indicating reduced trading activity as the price stabilizes. On the 1-day chart, the price’s position above the 200-day moving average at $89,065.10 reinforces the bullish trend, with the recent breakout above $90,000 signaling a potential continuation of the uptrend.
Looking ahead, Bitcoin’s short-term outlook remains bullish but with caution due to overbought conditions. On the 4-hour chart, the current price of $94,303 is testing resistance around $94,514.79, and a break above this level could lead to a push toward $95,000 or even $97,000. However, the overbought RSI and KDJ suggest a potential pullback, with support at $92,000 and $90,000 if selling pressure emerges. On the 1-day chart, the bullish trend is strong as long as the price holds above $90,000, but a drop below this level could see a retest of $89,065.10. Traders should watch for $95,514.79 as a key resistance and $92,000 as immediate support in the near term.
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